Watch the video below: The USA fared really badly in the crisis because inequality and polarization was already a huge issue, before. New Zealand did great not only because it the natural advantage of being a ‘beautiful and far-off island' but because the NZ government has long taken a collective, informed and scientific approach to public concern such as healthcare.
“As we enter the second year of the COVID-19 pandemic, the intersection of the ongoing economic crisis, the continuing pandemic, the social justice movement, and increasing inequality are just the short list of what leaders need to acknowledge, manage—and help to solve” Read more on Forbes
According to The Huffington Post, the richest 62 people on the planet now have amassed more wealth than 50% of the world’s entire population. The key question is whether continued exponential technological progress will exacerbate this worrisome trend, or whether it will somehow address it.
The gap between the rich and poor has grown over the last few decades, but it became increasingly pronounced after the 2008 financial crisis. While economists debate the extent to which technology plays a role in global inequality, most agree that tech advances have exacerbated the problem. In an interview with the MIT Tech Review, economist Erik Brynjolfsson said, “My reading of the data is that technology is the main driver of the recent increases in inequality. It’s the biggest factor.” Which begs the question: what happens as automation and AI technologies become more advanced and capable? Read more
“The Covid-19 crisis has likely accelerated the process. Since 1990, every U.S. recession has been followed by a jobless recovery. This time, as AI, algorithms, and automation reshape the workforce, we may end up with something worse: a K-shaped recovery — where the prospects of those at the top soar, and everyone else sees their fortunes dive.” Algorithms Are Making Economic Inequality Worse, by Mike Walsh. Read more