Robert Reich: Pandemic Economics
on Wednesday, December 23, 2020Robert Reich Money Quote saying If the rich are the only ones getting richer during a devastating pandemic, it shows we need to restructure our financial system. Robert Reich said:
“How can you witness billionaires accumulate $10,000,000,000,000 in wealth during an economically catastrophic pandemic and not conclude that the system needs to fundamentally change?” — Robert Reich
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In this quote, Robert Reich is expressing astonishment and criticism regarding the immense wealth accumulation by billionaires during the COVID-19 pandemic, a time when many ordinary citizens and businesses struggled greatly.
By pointing out that billionaires collectively grew $10 trillion richer even as the economy and many people suffered tremendously, Reich appears to be arguing that this vast wealth gain by a small few at the top indicates the current system is deeply flawed and in need of significant reform.
He seems to be implying it is unreasonable and unjust for billionaires to profit to such an extraordinary degree amid widespread hardship, and this outcome suggests the rules and structures that govern the economy must be fundamentally changed to be more equitable and balanced going forward.
Overall, Reich is using the contrasting fortunes of billionaires versus many citizens during the pandemic as clear evidence that a major overhaul of the system is necessary.
How can you witness billionaires accumulate $10,000,000,000,000 in wealth during an economically catastrophic pandemic and not conclude that the system needs to fundamentally change?
— Robert Reich (@RBReich) October 16, 2020