Covid-19 was the trigger for an economic collapse that awaited. There will be other triggers. The challenge is to build a new income distribution system that will make society and every individual much more resilient.
What has caused the vulnerability, in Britain and worldwide, is the evolution of interest capitalism, in which more and more revenues flow to owners of financial, physical and so-called intellectual property. In the UK, the value of financial assets of financial institutions has risen to over 1,000 percent of GDP. Meanwhile, private wealth has risen from about 300 percent of GDP in the 1970s to […]
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