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Shared Societies and the Global Crisis: Evidence and Policy

Author

Listed:
  • Raymond Torres

    (Director, International Institute for Labour Studies, International Labour Organization, Geneva.)

Abstract

The recent global crisis has proved that the increase in income inequality observed over the last decades has not produced the expected effects on investments and growth. At the same time, this fact has amplified the message that there is still much work to do to ensure the social sustainability of globalization. The aim of this paper is to discuss the issue of income inequality in the context of the global crisis. In particular, it focuses on the inequality trends both before and after the current crisis and it examines the linkages between income inequality and the global economic and financial crisis. Furthermore, a set of policies and practices to correct these inequalities – notably, more well-designed labour market institutions, progressive taxation and social transfers – are discussed.

Suggested Citation

  • Raymond Torres, 2012. "Shared Societies and the Global Crisis: Evidence and Policy," Working Papers 2012/42, Maastricht School of Management.
  • Handle: RePEc:msm:wpaper:2012/42
    as

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    File URL: http://web2.msm.nl/RePEc/msm/wpaper/MSM-WP2012-42.pdf
    File Function: First version, 2012
    Download Restriction: no

    References listed on IDEAS

    as
    1. Grady, Patrick, 1990. "An Analysis of the Distributional Impact of the Goods and Services Tax," MPRA Paper 13144, University Library of Munich, Germany.
    2. Zodrow, George R. & Mieszkowski, Peter M., 1986. "The new view of the property tax A reformulation," Regional Science and Urban Economics, Elsevier, vol. 16(3), pages 309-327, August.
    3. Raymond TORRES, 2010. "Incomplete crisis responses: Socio-economic costs and policy implications," International Labour Review, International Labour Organization, vol. 149(2), pages 227-237, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Inequality; global crisis; sustainability; social cohesion; shared societies;

    JEL classification:

    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

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