[David McNally] The Pandemic & the Economy: A Radical View
AlternativeRadio
English - July 31, 2020 01:16 - 57 minutes - 52.3 MB - ★★★★★ - 455 ratingsNews Government politics news Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The standard narrative about the current crisis is that the coronavirus pathogen triggered an economic collapse. But what is crucially ignored is that neoliberal capitalism was already weak and stressed out, a pre-existing condition, if you will. That systemic weakness went into freefall when the pandemic hit. In its long history, capitalism has produced many booms and busts but this period, particularly since Reagan, has produced spectacular inequalities in wealth and income. Tens of millions, if they even have a job, live paycheck-to-paycheck. We're all in this together? Right? That's what the signs say. But not the rich. They have their country estates, yachts and island retreats to shelter in place. The big question is: Once the crisis abates are we going to go back to business as usual, or will there be fundamental change?