How to make capitalism work for all
In many rich countries, decades of economic polarisation have left people like my neighbour not just underpaid, but having to accept short-term contracts, erratic shift patterns and unpredictable earnings.
This “precariat” faces debilitating insecurity, which lockdown has made worse.
As the gilets jaunes protests in France illustrated, many people see the economy as a system to which they do not belong, rigged to benefit others.
Donald Trump, the architects of Brexit and populist movements across Europe all advanced by appealing to groups that felt forgotten by elites and saw the economic system as rigged against them.
They have, in effect, been promising to restore the post-1945 era and bring about the sort of moral reordering we glimpsed in the lockdown.
Martin Sandbu FT 3 July 2020
This “precariat” faces debilitating insecurity, which lockdown has made worse.
As the gilets jaunes protests in France illustrated, many people see the economy as a system to which they do not belong, rigged to benefit others.
Donald Trump, the architects of Brexit and populist movements across Europe all advanced by appealing to groups that felt forgotten by elites and saw the economic system as rigged against them.
They have, in effect, been promising to restore the post-1945 era and bring about the sort of moral reordering we glimpsed in the lockdown.
Martin Sandbu FT 3 July 2020
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