Today’s economic system works quite well—for the already well-off, as the global Covid-19 pandemic aptly demonstrated. It works substantially less well for the vast majority of people in the United States, who were already struggling to earn a decent living prior to the pandemic and whose situation became even more evident in the wake of the novel Coronavirus, Sars-Cov-2. In the United States, for example, workers’ wages were basically flat for about 40 years,1 even before the massive unemployment caused by the pandemic. There is even an emerging group that Guy Standing calls the “precariat,”2 comprised of “millions of people scattered around the world, living and working in insecure jobs and conditions of life.”3 This ...
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