It is not just social justice activists who argue this. Д«ig pharma, for example, has never been less accountable. Before March 2020, the world economy was already in a crisis, but since then pandemic economics, just like war economics in previous moments of crisis, have been used to boost elite wealth and power. Restore democratic governance, end the power of elites,Д¬ovid-19 laid these inequalities bare. One man literally has enough money to rescue the planet.Д«ill Gates, who would have us believe that he is the saviour of global health, has a net worth of $136.5-billion in 2021. вЂњWe canвЂ™t afford it,вЂќ they plead, yet Elon MuskвЂ™s personal net worth is reported by Forbes to be nearly $300-billion. IsnвЂ™t it ridiculous that COP26, a meeting of governments that was meant to steer humanity away from climate catastrophe, failed for want of a commitment from developed countries to raise enough money to fund a $100-billion climate finance facility to assist developed countries make a just and equitable energy transition? The inability to carry out the popular will has gutted democracy. They have surrendered or sold it to elites who threaten governments with fears of disinvestment and the terror of downgrading by the unaccountable ratings agencies.ДЄs a result, most governments find themselves financially incapable of carrying out their social obligations. One of the greatest problems society has suffered in the 21st century is the way democratically elected governments have progressively ceded the power the law entrusts to them. Because of вЂfunding constraintsвЂ™ they have failed to fulfil legal duties under international law and national Constitutions that - like ours - require them to вЂњrespect, protect, promote and fulfil human rightsвЂќ. This increase in the wealth of the 0.1% of the worldвЂ™s population has taken place at the very same moment as governments have struggled to fund interventions to protect poor people from Covid. According to Chancel, this amount is вЂњalmost equivalent to the total annual spending on public health by all governments in the world before the pandemic - approximately $4-trillion.вЂќ (Total spending on health from all sources was $7.8-trillion in 2017 according to the WHO )Д«ut in the same period, 100 million more people around the world have been thrown into extreme poverty as a result of Covid.ДЄnd hereвЂ™s the rub that makes a calamity of so many peopleвЂ™s lives.

The share of wealth held by public actors is close to zero or negative in rich countries, meaning that the totality of wealth is in private hands.вЂќДЄt a media briefing its lead author, Lucas Chancel from the Paris School of Economics described how in 2020, during the first waves of the Covid-19 pandemic, global billionairesвЂ™ wealth grew by $3.7 trillion.

вЂњOver the past 40 years, countries have become significantly richer, but their governments have become significantly poorer. It notes how across the world вЂњNations have got richer - but governments have got poorerвЂќ documenting how:

The report shows how in 2021, вЂњafter three decades of trade and financial globalisation, global inequalities remain extremely pronounced вЂ¦ about as great today as they were at the peak of Western imperialism in the early 20 th century.вЂќ

Little big planet levels