Who’s Afraid of High Unemployment?

We’re not returning to business as usual. China’s air pollution is back, as the factories are running full steam again, but shoppers will not return to the pre-COVID days. Bankruptcies and higher taxes are in store for America says Larry Fink of BlackRock, the world’s largest asset manager; Europe is likely to raise taxes to cover their “grants for post-COVID recovery,” according to Reuters, and the global luxury market is “headed for 18 per cent drop,” writes the South China Morning Post.

If this bright future seems obscure to us, it is because we haven’t fully grasped the depth of

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