Covid-19: The High Cost of Crisis Capitalism
The Pandemic Profiteers: How Covid-19 Created a $21 Trillion Global Crisis Capitalism Playbook That Is Not Free-Market, Only Made for a Private Few
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When Covid-19 struck in early 2020, governments worldwide invoked emergency powers to fast-track spending. What began as a public health response quickly morphed into history's greatest corporate giveaway—An estimated $21 trillion flowed into government spending worldwide, with a significant portion directed to well-connected firms; all the whilst taxpayers footed the bill for inefficiency, fraud, and neglect.
At the heart of this scandal lies a simple formula: exploit crisis, suspend rules, reward insiders. From Washington to London, the same patterns emerged—and the consequences will haunt us for decades. This builds the case on how crisis creation has replaced wealth creation in capitalism.