Capitalism and Global Inequality
In 2018, according to the international development agency Oxfam, the richest 1% of humanity received 52% of the world’s wealth and the top 20% received a full 95%, while the remaining 80% – the vast majority of humanity – had to make do with just 5%. And if such glaring inequalities appeared as mind-boggling when the Oxfam report was released, they have continued to deepen in the intervening years. In the first six months of the coronavirus...