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Power, Profits and the Pandemic: From corporate extraction for the few to an economy that works for all
The worsening inequality crisis triggered by COVID-19 is fuelled by
an economic model that has allowed some of the world’s largest
corporations to funnel billions of dollars in profits to shareholders,
giving yet another windfall to the world’s top billionaires, a small
group of mostly white men. At the same time, it has left low-wage
workers and women to pay the price of the pandemic without social
or financial protection. Since the onset of the pandemic, large
corporations have put profits before workers’ safety, pushed costs
down the supply chain and used their political influence to shape
policy responses. COVID-19 should be the catalyst for radically
reining in corporate power, restructuring business models with
purpose and rewarding all those that work with profits, creating an
economy for all.