After nearly a year of living with COVID-19, the public health aspects of the disease are now well understood. But the economic impact of the crisis continues to mystify.
On the one hand, the pandemic has triggered the most severe recession in living memory: national income has collapsed, unemployment is rising, and many households and businesses are struggling to survive.
But on the other hand, stock markets are booming, house prices are soaring, and the rich appear to be getting even richer. How can this be reconciled?
