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Seminario: The impact of the 2008 global financial crisis on suicides: the need for stronger social protection

Martedi 20 febbraio 2018, ore 14.15 - Aula 4, ala est

Autore:  Roberto De Vogli

In 2008, the world experienced the worst financial crisis since the Great Depression. The crisis is often described in relation to its proximal risk factors such as the proliferation of risky loans and mortgage-based securities, but the root causes of the Great Recession include distal risk factors such as indiscriminate capital flow, excessive financial deregulation and high concentration of wealth in the top distribution. Ultimately, the crisis is a by-product of neoliberal policies and the “self-correcting market” ideology that guided national and global macroeconomic reforms since the 1970s.
Evidence indicates that the Great Recession led to increases in unemployment and suicides, especially in Europe and in the United States. Countries particularly affected by the crisis such as Italy and Greece, experienced rapid increases in mortality due to suicides and mental health problems. However, empirical analyses based on the effects of previous economic downturns suggest that crises are not necessarily characterized by decreases in life expectancy at birth. These favorable trends seem more likely to be experienced by countries with a more egalitarian distribution of income and stronger social protections. Evidence from Europe and Italy also showed that investment in social spending is associated with a reduction of the correlation between unemployment and suicides during crises.
New rules and regulations at the national and global level are needed to prevent future financial crises. Redistribution of wealth and stronger investments in social protection are necessary for the safeguard of population health in times of economic recession.

[Ultimo aggiornamento: 13/02/2018 11:40:29]