The COVID-19 Pandemic and Class Struggle
Crises under capitalism tend to increase existing inequalities. This is also a consequence of the handling of the COVID-19 pandemic. Global labor income decreased by an estimated 10.7 % (or US$3.5 trillion) in the first nine months of 2020 compared to the previous year. Meanwhile, the total combined wealth of the more than 2,200 official billionaires worldwide grew from $9.5 trillion on December 31, 2019 to an estimated US$11.4 trillion a year later. Studies...