COVID-19: The Great Reset

With income inequality more marked than ever in many countries and technological developments driving further polarization, total GDP or averages such as GDP per capita are becoming less and less useful as true indicators of individuals’ quality of life.

Low-income workers in routine jobs (in manufacturing and services like food and transportation) are those most likely to be affected. The labour market will become increasingly polarized between highly paid work and lots of jobs that have disappeared or aren’t well paid and are not very interesting

In all likelihood, the recession induced by the pandemic will trigger a sharp increase in labour-substitution, meaning that physical labour will be replaced by robots and “intelligent” machines, which will in turn provoke lasting and structural changes in the labour market.