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Tuesday, Oct 27, 2020

How the coronavirus pandemic affects the world's working poor | COVID-19 Special

The coornavirus pandemic affects everyone. The global economy is in a state of paralysis. Business are closed, production has ground to a halt. In many western countries governments are dishing out generous aid packages to business owners, freelancers and companies in need.
But while rich countries can cushion the economic fallout from the crisis, others stare into an abyss. In many developing and emerging economies the corona crisis hits people with full force.

As a result, UN Secretary General Antonio Guterres has urged rich countries to do more for those that are less prepared. Otherwise, he warned, we face the nightmare of the disease spreading like wildfire in develping nations with millions of deaths.
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Capitalism has been called a system of greed—yet it is the system that raised the standard of living of its poorest citizens to heights no collectivist system has ever begun to equal, and no tribal gang can conceive of.

Ayn Rand
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