A world redrawn: Nobel winner Deaton warns virus could worsen inequality
A world redrawn: Nobel winner Deaton warns virus could worsen inequality
AFP
7 hrs ago
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The coronavirus outbreak has exposed existing inequalities but without reform, argues Nobel prize-winning economist Angus Deaton, it also risks making them much worse.
In an interview with AFP, the Scottish-born Princeton professor called for changes to the US healthcare system and the power of the country's big tech firms.
"Someone compared the pandemics to an X-ray machine that makes the inequalities already there much more transparent," the 75-year-old said.
"The educated people, most of us have jobs we can continue to do almost the same way, we talk to people on Zoom and we get paid just the same."
But those with less formal education are often "essential workers (who) risk their lives with COVID. Or if they are in non-essential things, they might lose their jobs".
In the United States, death rates have risen for those without a university degree and are going down for those with one, he says.
In addition, "mortality rates from COVID are much higher for African Americans than they are for whites".
He said these factors could not have predicted the wave of protests that have swept the US following the death of George Floyd.
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"When people lost their jobs they lost their medical insurance," he said.
"There are a huge number of people who have been treated for COVID and survived and will end up with huge medical bills.
"There's a huge number of people that have died from COVID and their families will end up with huge medical bills.
"And they cannot pay these bills -- even people who have insurance, because often insurance has huge deductibles."