Collins says ‘billionaires are economic distancing’ in People’s World
May 15, 2020
Post Carbon Fellow Chuck Collins was quoted in this article about the increase in both of unemployment and the number of billionaires.
From the article:
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While joblessness went up again, so did the number of U.S. billionaires, and their combined hoards, the Institute for Policy Studies said. “This is the tale of two pandemics. Billionaires aren’t just social distancing—they are economically distancing—leaving the rest of working Americans behind,” said Chuck Collins, author of IPS’s recent report on billionaires and the crash.
“Billionaire wealth increased $368.8 billion,” or 12.51%, since joblessness started to jump on March 18, Collins reported. And 14 more people joined the U.S. billionaires list, increasing it to 628.