Crisis, Inequalities and Poverty

The Structural Inequities of Capitalism, from Lehman Brothers to Covid-19

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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.
Copyright Year:
2022
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978-90-04-51443-0
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12 Sep 2022
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978-90-04-51442-3
Publication:
08 Sep 2022
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Francesco Schettino, Ph.D. (2002), Sapienza University of Rome, is Professor of Economics at the University of Campania L. Vanvitelli. He has published extensively on global political economy and Marxist theory and is a founder of the Universtità Popolare Antonio Gramsci.

Fabio Clementi, Ph.D. (2002), Sapienza University of Rome, is Professor of Economics at the University of Macerata, Italy. Specialising in income distribution and inequality, he has published an number of books and articles internationally and is currently a consultant for the World Bank.
"The Authors have written a book that is pleasant o read and represents the fruit of years of scientific research already published in important journals, especially about the analysis of inequalities."
Stefano Lucarelli, in Review of Political Economy, Review of Political Economy

"Schettino and Clementi’s book shows in great detail that, in the capitalist system, the accumulation of capital goes hand in hand with the accumulation of poverty. This system, based on the indiscriminate exploitation of man and nature, today reveals all its contradictions, perhaps more than ever before."
Domenico Suppa, in SINAPPSI Journal, March 2023 SINAPPSI Journal
Foreword

Acknowledgments

List of Figures and Tables

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


2 Dollar vs. Euro From the 2010 Attack to the final surrender of 2015
 1 An Evening in Manhattan

 2 The Spectre of Speculation

 3 The Final Surrender: The Greek Clinamen

 4 ttip, tpp and Global Conflict


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


4 Income Distribution Concepts, Analytical Tools and Empirical Evidence
 1 Income Distribution
 1.1 Basic Concepts

 1.2 Representing Income Distribution


 2 Global Income Distribution
 2.1 Income Distribution in Italy 


 3 Economic Inequality
 3.1 Measuring Inequality

 3.2 Relative vs. Absolute Inequality

 3.3 Inequality in the World


 4 Income Inequality in Italy
 4.1 The Causes of Inequality


 5 Poverty: Definition and Measurement

 6 Defining Poverty
 6.1 Standard of living

 6.2 Uni- and Multidimensional Poverty

 6.3 Relative and Absolute Poverty


 7 Poverty Lines
 7.1 Measuring Poverty

 7.2 Poverty in the World

 7.3 Poverty in Italy 


 8 Income Polarisation
 8.1 Definition

 8.2 Inequality and Income Polarisation

 8.3 Measuring Income Polarisation

 8.4 Income Polarisation in Practice


5 The Effects of the Crisis on Poverty and Inequality
 1 More People in Poverty?

 2 A Less Equal World?


6 Pandemic, Crisis, Inequality and Conflict
 1 The Crisis Scenario Pre Covid 19

 2 Epidemic, Misery, Inequality and Conflict


7 Afterword Socialism or Barbarism: Where Do We Go from Crisis, Inequalities and Poverty?
  Haider A. Khan

References

Index

This book could be of interest to academic libraries, economists, students of humanities faculties, students of economics, post-graduate students, political activists, and everyone interested in understanding contemporaneity.
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