A good read by Nobel Prize winner Angus Deaton. Don’t let the title put you off. It reminds me of a time when I was working at a promising tech start-up and the country’s economic situation changed, abruptly. An employee quipped that his job went from a high-risk, high-reward situation to a high-risk, low-reward situation. I think something similar has happened to the US in general, at least for the bottom 90% or so. From the Boston Review.
Boston Review talks with Nobel Prize-winning economist Angus Deaton about COVID-19, the relationship between culture, financial hardship, and health, and why capitalism’s flaws are proving fatal for America’s working class.