Yves here. Lynn Fries and her guest Richard Kozul-Wright, chief economist at UNCTAD, look at the prospects for the global economy after Covid and aren’t keen about what they see. The off and on recovery has benefitted the rich and left the poor behind, for the same reasons that the aftermath of global financial increased inequality: policymakers don’t want to change a hyper-financialized system.
Even though a growing number of economists and commentators share this high-level view, Konzul-Wright and Fries explore the various mechanisms that have produced this current system, the fragilities that result, and the prospects for meaningful reform.