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The fault lines of inequalityCOVID 19 and the politics of financialization /

Record Type:	Electronic resources : Monograph/item
Title/Author:	The fault lines of inequalityby Huw Macartney, Johnna Montgomerie, Daniela Tepe.
Reminder of title:	COVID 19 and the politics of financialization /
Author:	Macartney, Huw.
other author:	Montgomerie, Johnna.
Published:	Cham :Springer International Publishing :2022.
Description:	ix, 126 p. :ill., digital ;24 cm.
Contained By:	Springer Nature eBook
Subject:	EqualityHistory21st century.Great Britain
Subject:	Great BritainEconomic policy1979-1997.
Online resource:	https://doi.org/10.1007/978-3-030-96914-1
ISBN:	9783030969141$q(electronic bk.)

The fault lines of inequalityCOVID 19 and the politics of financialization /
Macartney, Huw.

The fault lines of inequalityCOVID 19 and the politics of financialization /[electronic resource] :by Huw Macartney, Johnna Montgomerie, Daniela Tepe. - Cham :Springer International Publishing :2022. - ix, 126 p. :ill., digital ;24 cm.

Chapter 1: An Introduction to the Economics of Crisis Response -- Chapter 2: Inequality and the Asset Economy -- Chapter 3: A windfall at the Top -- Chapter 4: A Squeezed Middle -- Chapter 5: Precarity for those at the Bottom -- Conclusion: Redressing Inequality in Politics and Policy.

This book examines how decisions made by the Conservative government during the COVID19 pandemic have increased economic inequality in the UK. Decades of austerity, asset-based welfare and financialization had already exacerbated social divisions in the UK prior to the pandemic. The political blueprint behind these measures combined Privatized Keynesianism and the Asset Economy. To explain, economists have highlighted that inequality derives from the fact that income from wealth increases at a faster rate than income from wages. The ensuing political assumption is that - in the face of pressures on public finances - promoting asset ownership is the best alternative to government-funded welfare schemes. What this meant, as the pandemic unfolded, was that when tough decisions about resource allocation needed to be made, the UK Treasury and the Bank of England found almost unlimited funds to rescue and protect asset-holders and middle-income homeowners, whilst reverting to a narrative of "misfortune" for the asset-less poor. This book assesses the political decisions taken by UK policymakers during 2020-21 and their consequences. In doing so, it challenges policymakers and the informed public to re-consider the morality of inequality, and to make alternative decisions to promote a more ecologically sustainable, caring, equal and prosperous society. Huw Macartney is Associate Professor of Political Economy at the University of Birmingham, UK. Johnna Montgomerie is Professor of International Political Economy at Kings College London, UK. Daniela Tepe is Senior Lecturer in Political Economy at the University of Liverpool, UK.

ISBN: 9783030969141$q(electronic bk.)

Standard No.: 10.1007/978-3-030-96914-1doiSubjects--Topical Terms:

687618
Equality
--History--Great Britain--21st century.Subjects--Geographical Terms:

381151
Great Britain
--Economic policy--1979-1997.

LC Class. No.: HN400.S6

Dewey Class. No.: 338.94109052

The fault lines of inequalityCOVID 19 and the politics of financialization /
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520 $a This book examines how decisions made by the Conservative government during the COVID19 pandemic have increased economic inequality in the UK. Decades of austerity, asset-based welfare and financialization had already exacerbated social divisions in the UK prior to the pandemic. The political blueprint behind these measures combined Privatized Keynesianism and the Asset Economy. To explain, economists have highlighted that inequality derives from the fact that income from wealth increases at a faster rate than income from wages. The ensuing political assumption is that - in the face of pressures on public finances - promoting asset ownership is the best alternative to government-funded welfare schemes. What this meant, as the pandemic unfolded, was that when tough decisions about resource allocation needed to be made, the UK Treasury and the Bank of England found almost unlimited funds to rescue and protect asset-holders and middle-income homeowners, whilst reverting to a narrative of "misfortune" for the asset-less poor. This book assesses the political decisions taken by UK policymakers during 2020-21 and their consequences. In doing so, it challenges policymakers and the informed public to re-consider the morality of inequality, and to make alternative decisions to promote a more ecologically sustainable, caring, equal and prosperous society. Huw Macartney is Associate Professor of Political Economy at the University of Birmingham, UK. Johnna Montgomerie is Professor of International Political Economy at Kings College London, UK. Daniela Tepe is Senior Lecturer in Political Economy at the University of Liverpool, UK.
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