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World

Does COVID-19 mean socialism or social collapse?

7 May 2020

3:36 AM

7 May 2020

3:36 AM

Inequality is the price we pay for civilization. Property rights, inheritance customs and unequal gains from technological innovation have long divided us into haves and have-nots. Because stability favors such disparities, it usually took powerful shocks to flatten them. The collapse of states wiped out elites. The World Wars slashed returns on capital and imposed heavy-handed regulation and confiscatory taxation.

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