A World Redrawn: Nobel Winner Deaton Warns COVID-19 Could Worsen Inequality
In this file photo taken on September 08, 2016 In this file photo taken on September 08, 2016 US-British microeconomist and 2015 Nobel Prize winner in Economics Angus Deaton poses during an interview in Paris on September 8, 2016. – The coronavirus outbreak has exposed existing inequalities but without reform, argues Nobel prize-winning economist Angus Deaton, it also risks making them much worse. ERIC PIERMONT / AFP.
“The educated people, most of us have jobs we can continue to do almost the same way, we talk to people on Zoom and we get paid just the same.” In addition, “mortality rates from COVID are much higher for African Americans than they are for whites”. “There’s a huge number of people that have died from COVID and their families will end up with huge medical bills.
“Anything is better than pretending that the market can deliver healthcare — because it can’t,” he said. “I’m worried that unemployment will last for a very long time, that this will strengthen the share of capital relative to GDP,” Deaton said.
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