World Socialist Web Site wsws.org 07 Apr, 2021 06:15 am

The case for expropriation: Billionaires’ wealth surged 60 percent in first year of pandemic

The case for expropriation: Billionaires’ wealth surged 60 percent in first year of pandemic
The newly released Forbes list reveals that in 2020, as COVID-19 was sweeping the world and killing millions, billionaire wealth skyrocketed as never before.

First, through the exploitation of the working class in the process of production.” The piling up of immense sums at the top of society is made possible by the immiseration of the working class and poor.No expense was spared to guarantee and expand the wealth of the very richest, while destroying the wages and conditions of the working class.The capitalists were determined to ensure that the working class paid the full cost of the pandemic, and more.

This policy, which has led to the deaths of over three million people, has the deliberate aim of expanding the wealth of the financial oligarchy.In other words, the government oversaw the massive creation of public debt, which was transferred, by the mechanism of the markets, into the private fortunes of the financial oligarchy.

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