For America’s poor, the Covid-19 pandemic has delivered a swift and brutal reversal of fortune. Since Covid-19 struck, however, a host of economic statistics–and legions of pundits–have pointed to a resurgence in inequality. Yet if history is a guide, the pandemic could eventually render the distribution of income more egalitarian. Meanwhile, workers on the lower rungs of the income ladder have borne the brunt of job losses. Since antiquity, he argues, only four forces have ever managed to reduce inequality in a sustained way: war, revolution, state failure and pandemic.

Source: Stuff July 07, 2020 22:30 UTC