Just reading the headline, what this means to me is that the "world economy" is doing a lot better than most of us are doing as individuals. I'm on a 25% furlough. Sales from my side business have dropped to zero. My other side job has dropped to zero. Among working people, I'm one of the lucky. My family actually has a little bit of money in the kitty.
"The economy" refers to a system that's primarily designed to concentrate and protect private wealth, and a 3% loss of private wealth isn't all that bad at all. The people who are really hurting have no wealth to lose.
I hope an outcome of this crisis is that we start to think about "the economy" in more humane terms.
"The economy" refers to a system that's primarily designed to concentrate and protect private wealth, and a 3% loss of private wealth isn't all that bad at all. The people who are really hurting have no wealth to lose.
I hope an outcome of this crisis is that we start to think about "the economy" in more humane terms.