Gated recessions: multitudes could suffer while the rich grow richer and macro indicators mask hard times
· livemint.com
Lower-middle-class households in India may effectively be caught in a ‘gated recession.’ Trying to halt AI job takeovers would do more harm than good but governments could levy higher marginal taxes on the fortunes, inheritances and incomes of the ultra-rich.
To be counted as unemployed in the US, a person must be actively looking for a job. Today, however, the job market is so bleak that people are giving up the sea...