November 17, 2021

Technology can help democratise financial services

The writer is a professor of financial economics at Imperial College London

The economic damage caused by the pandemic is partially hidden by the extraordinary level of support injected by governments around the world. In September, many pandemic bailouts will begin to end in both the United States and the United Kingdom. This reveals the non-uniform effects of the pandemic, with the worst impact on low-income and low-income households. Wealth inequality, which was already a serious concern before the pandemic, is now even more extreme.

Over the last few decades we have seen progress worldwide Lower the rank of very poor people, There is a big wealth gap in the growing world middle class, there is a big difference Between the middle class and the very wealthy..Wealthy families during the pandemic Expanded lead over the poor, Partly because we were able to save more. However, high…

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