Did Capitalism Fail During the Pandemic?
The Soho Forum Debates
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The Impact of COVID on Income Inequality and Capitalism
This chapter explores how the COVID-19 pandemic exacerbated income inequality, benefiting the wealthy while risking frontline workers. It critiques the role of capitalism in handling the pandemic, addressing issues of crony capitalism and government-business alliances. The chapter also discusses the economic consequences of lockdowns, the Federal Reserve's role in financing deficits, and alternative strategies like focused protection for vulnerable populations.
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