Covid-19 was the trigger for an economic collapse waiting to happen. There will be other triggers. The challenge is to build a new income distribution system that will provide society, and every individual, with much greater resilience.
What has produced the fragility, in Britain and globally, is the evolution of rentier capitalism, in which more and more of the income flows to owners of financial, physical and so-called intellectual property. In the UK, the value of financial corporations’ financial assets has risen to over 1,000 per cent of GDP. Meanwhile, private riches have risen from about 300 per cent of […]
Full Post at www.wired.co.uk