Crisis, Inequalities and Poverty : The Structural Inequities of Capitalism, from Lehman Brothers to Covid-19 / by Francesco Schettino and Fabio Clementi ; translated by Bethan Bowett.

Format:

Book

Author/Creator:

Schettino, Francesco, 1978- author.

Clementi, Fabio, 1977- author.

Contributor:

Bowett, Bethan, translator.

Series:

Studies in critical social sciences ; Volume 227.

Studies in Critical Social Sciences Series ; Volume 227

Language:

English

Subjects (All):

Financial crises.

Capitalism.

Physical Description:

1 online resource (220 pages)

Edition:

First edition.

Place of Publication:

Leiden, The Netherlands : Brill, [2022]

Summary:

In Crisis, inequalities and Poverty, Schettino and Clementi provide an empirical and theoretical analysis of the capitalist crisis of the last two decades with a particular focus on the impact on poverty and inequality.

In Crisis, Inequalities and Poverty , Schettino and Clementi provide an empirical and theoretical analysis of the economic breakdown that has characterised the last two decades of capitalist development – from the Lehman collapse to the Covid-19 pandemic – with a particular focus on the impact on poverty and inequality. The book provides a materialist account of the current global crisis of overproduction and looks at the link between capitalist crisis and systemic inequity, making the case through detailed quantification that the principal engine of these structural phenomena is in fact the general law of accumulation of the capitalist mode of production.

Contents:

Half Title

Series Information

Title Page

Copyright Page

Contents

Foreword

Acknowledgments

Figures and Tables

Chapter 1 The Nature of the Crisis

1 Underconsumption, Prices and Profits

2 Excess Commodities, Excess Needs

3 Pressure to Purchase, Debt and Speculation

4 Financial Speculation and the Ratings Agencies

5 Currency Conflict

Chapter 2 Dollar vs. Euro: From the 2010 Attack to the 2015 Surrender

1 An Evening in Manhattan

2 The Spectre of Speculation

3 The Final Surrender: The Greek Clinamen

4 ttip, tpp and Global Conflict

Chapter 3 A Flood of Liquidity: From qe towards a New Despotic Management of Capitalism

1 'Hostile Brothers' and Fictitious Capital

2 Quantitative Easing (qe)

3 The Effects of Quantitative Easing

4 Capitalism's Addiction Problem

5 When It Rains, It Pours

6 Capital's New Despotism

Chapter 4 Income Distribution: Concepts, Analytical Tools and Empirical Evidence

1 Income Distribution

1.1 Basic Concepts

1.2 Representing Income Distribution

1.3 Global Income Distribution

1.4 Income Distribution in Italy

2 Economic Inequality

2.1 Measuring Inequality

2.2 Relative vs. Absolute Inequality

2.3 Inequality in the World

2.4 Income Inequality in Italy

2.5 The Causes of Inequality

3 Poverty: Definition and Measurement

3.1 Defining Poverty

3.2 Uni- and Multidimensional Poverty

3.3 Relative and Absolute Poverty

3.4 Poverty Lines

3.5 Measuring Poverty

3.6 Poverty in the World

3.7 Poverty in Italy

4 Income Polarisation

4.1 Definition

4.2 Inequality and Income Polarisation

4.3 Measuring Income Polarisation

4.4 Income Polarisation in Practice

Chapter 5 The Effects of the Crisis on Poverty and Inequality

1 More People in Poverty?

2 A Less Equal World?.

Chapter 6 Pandemic, Crisis, Inequality and Conflict

1 The Crisis Scenario Pre Covid 19

2 Epidemic, Misery, Inequality and Conflict

Chapter 7 Afterword: Socialism or Barbarism: Where Do We Go from Crisis, Inequalities and Poverty?

1 Introduction

1.1 On Crisis, Inequalities and Poverty within a Global Ecological Imperialist Political Economy with Real Competition

1.2 Real Competition, Uneven Development, Crisis and North-South Divide in the Age of Pandemics

1.3 From Crisis, Inequalities and Poverty within a Global Ecological Imperialist Political Economy with Real Competition to the Contrastive Case of China and Global Futures: Socialism or Barbarism

2 Time Horizon for Optimal Planning

3 The Immediate Crisis: December 2019 to February 2020

3.1 Economic Impacts and Countervailing Policies from March 2020 to March 2021

3.2 Going Beyond: The 14th Five-Year Plan

3.3 Methodology for Modelling and Counterfactual Experiments and Scenarios

3.4 Matrix Algebra of Multiplier Analysis

3.5 Some Illustrative Results and Interpretation

4 Modelling of Employment Effects after Fiscal Stimulus

5 Summary and Policy Recommendations in an Imperfect Crisis-Infested World of 2020s

6 wcs and Chinese Ambiguities

7 Conclusions: Possible Global Futures-Socialism or Barbarism?

References

Index.

Notes:

Description based on print version record.

Includes bibliographical references and index.

ISBN:

90-04-51443-0

Publisher Number:

10.1163/9789004514430 DOI