in the great depression, the crash did reduce inequality
in the covid19, the crash increased inequality
my opinion is that nowadays, fortune is highly financialized.
during a crisis, for most(99.99%) ordinary people who are in the market, they suffer the real lose, and they have nothing to comeback, even have to sell their assets to pay their bills, all they can get from the goverment is something like food banks, or the best situation, get a job to sell their labor
but for certain people either hold enough cash or can obtain enough cash from government relief programs, putting them in a position of advantage, this enables them to quickly reap a large amount of wealth during an economic crisis.
in the great depression, the crash did reduce inequality
in the covid19, the crash increased inequality
my opinion is that nowadays, fortune is highly financialized.
during a crisis, for most(99.99%) ordinary people who are in the market, they suffer the real lose, and they have nothing to comeback, even have to sell their assets to pay their bills, all they can get from the goverment is something like food banks, or the best situation, get a job to sell their labor
but for certain people either hold enough cash or can obtain enough cash from government relief programs, putting them in a position of advantage, this enables them to quickly reap a large amount of wealth during an economic crisis.