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The Capitalist Nightmare Of Covid

By Thomas Fazi and Toby Green writing for UnHerd

From the article,

Over the past two years, as the pandemic claimed the lives of millions of people and upturned the lives of everyone else, a silent revolution was taking place. Western capitalism suddenly found itself usurped; replaced by an even more oligarchic and authoritarian capitalist mode of power — what we might call neo-feudalism. Even as restrictions are lifted in the UK and other countries, the consequences of these changes will be felt for a long time to come.
On the one hand, hundreds of thousands of small and medium businesses were forced to shut down, triggering one of the worst jobs crises since the Great Depression. In 2020 alone, workers around the world cumulatively lost $3.7 trillion in earnings — an 8.3% decline.
On the other, a handful of mega-corporations, particularly in the Big Tech and Big Pharma sectors, have made a killing, raking in hundreds of billions more in “pandemic super-profits” than over the previous four-year average. Topping the list are behemoths such as Amazon, Apple, Microsoft, Alphabet (Google), Facebook, Pfizer, Johnson & Johnson, AstraZeneca and Merck.

Read the full article at UnHerd