Last Thing We Need is a Double Dose of Post-Covid Capitalism Pandemic Capitalism
In his best-selling book,
Ten Lessons for a Post-Pandemic World, Farid Zakaria makes an interesting point. He says that since the early 1990s, global inequality had been showing a marked decline, both between countries and between people in a particular country.
This, he says, was caused in large part by sustained economic progress in China, India and other developing countries, which grew much faster than developed countries...narrowing the gap and lifting hundreds of millions of people out of poverty. Globally, the number of people in extreme poverty dropped from 1.90 billion in 1990 to 650 million in 2018.