Covid pandemic made rich richer & poor poorer, Prof. Wolff tells Boom Bust
RT’s Boom Bust talks to the host of Economic Update, Professor Richard Wolff, to find out if this is a sign of a growing wealth disparity.
Absolutely, says Wolff. Using the United States as an example, he points out that over the last 16 months, over 85 million Americans – more than half the country’s labor force – had to file for unemployment compensation.
“More than one out of every two American workers went unemployed for a certain period of time,” he said, adding, “What that means is that if they had any savings they’ve used them. Their situation got worse.”
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