Greater Capitalism

Randall Lane, Chief Content Officer at Forbes, writes about how the coronavirus pandemic is ushering in a new, better age of capitalism and entrepreneurship.

 
In a matter of weeks, Covid-19 spurred seismic shifts in how we work, learn and transact, and it helped usher in a new era that is smarter and fairer.

The surreal year 2020 produces a personal Groundhog Day effect. The clock moves at one-quarter speed as the time-numbing diversions and necessities of a century ago, from jigsaw puzzles to yeast, fly off the virtual shelves. Simultaneously, though, the world is transforming at a pace unlike any experienced since World War II. In a matter of weeks, seismic, permanent shifts have occurred in how we work, learn and transact. The most significant shift is taking place in our economic system itself.

Capitalism, the greatest engine for prosperity and innovation ever created, was already under strain before the coronavirus pandemic. Despite a decade of impressive economic growth and job creation, a plurality of Americans still reported feeling as though the system was rigged, that hard work and playing by the rules no longer ensured success. “It is scary when you had the lowest unemployment, the lowest African-American unemployment, the lowest Hispanic unemployment, the lowest women’s unemployment,” says Michael Milken, who has sat in the middle of several of these cycles, “and that’s how people felt.”

Συνέχεια ανάγνωσης εδώ

Πηγή: forbes.com