via The Felder Report:
Inequality is a topic that has gotten less attention in the years since the onset of the pandemic but signs suggest it may soon be thrust back into the center of the national conversation.
A notable contrast to the inflationary period of the 1970s is the prominence of today's inequality problem.
Different from the broad wage-price spiral experienced back then, the convergence of the current wealth gap disparity and a substantially elevated cost of living is set to… pic.twitter.com/HHbmJDaZK4
— Otavio (Tavi) Costa (@TaviCosta) August 29, 2023
Because the pandemic did little to counteract the self-reinforcing dynamics further entrenching inequalities in both wealth and political power.
'Tax policies favor the rich, the education system favors the already privileged, and inadequately designed and enforced antitrust regulation tends to give corporations free rein to amass and exploit market power.' t.co/QUf4nI2UlZ
— Jesse Felder (@jessefelder) September 3, 2023
In fact, pandemic-induced dynamics in the housing market have only made things worse, with elevated prices and interest rates leading to record low affordability.