The issue of global economic inequality has increasingly drawn the
attention of scholars (Atkinson 2000; Lapavitsas, 2012; Milanovic 2005;
Piketty 2014; Sala i Martin 2006; Stiglitz 2012), NGOs (FOESSA 2014;
OXFAM 2014, 2015), and international institutions (World Bank 2006;
IMF 2007; UN 2005; OECD 2008, 2011, 2012, 2013, 2014b; UNDP
2005; UNICEF 2011). There is little doubt about the phenomenon of
rising inequality, already noticeable from the later 1990s and worsening
with the outbreak of the current financial crisis. Not surprisingly, the new
Sustainable Development Goals, approved by the United Nations in
September 2015, include as a priority the pursuit of equality (Goal 10).
The recession has had serious effects in most countries on inequality,
poverty, and at-risk-of-social-exclusion figures. However, differing
patterns have emerged. Within the EU-15, the Southern countries seem to
have experienced a larger impact. Greece, Italy, Portugal, and Spain have
suffered severe socio-economic deterioration that may be irreversible,
even if growth-rate recovery consolidates. Indeed, as we show later, a
detailed analysis of the economic conditions in Southern Europe reveals
