Blog: Apr 2020

Reweaving the social fabric after the crisis

28 April 2020

This piece originally appeared in the Financial Times

Pandemics erode the capital on which capitalism is built. They damage the lives and livelihoods of people, depreciating the human capital on which economies and their citizens rely. They lower asset prices, depressing the financial capital that fuels growth. And they threaten business activity, and often viability, causing physical capital to be paused or scrapped.