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The Pay Check

Coming Soon: The Pay Check Season Four

The Pay Check

Bloomberg

Society & Culture, Business, Investing

4.4630 Ratings

🗓️ 5 May 2022

⏱️ 3 minutes

🧾️ Download transcript

Summary

The pandemic created a global economic crisis that economists and experts expected would lead to greater wealth inequality than ever before. Host Rebecca Greenfield along with a team of Bloomberg News reporters heads to seven countries around the world to find out what this world changing event has wrought. What they found was surprising.

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Transcript

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0:00.0

It's kind of wild to think back to the beginning of the pandemic

0:13.7

when it felt like we were having a shared experience with billions of people around the world.

0:20.2

We've got to with billions of people around the world. Everyone, everywhere, had to learn to survive, and manage the virus, not just from a public health standpoint, but from an economic one too.

0:43.3

But in the two years since, what's become clear is that different countries approach the pandemic and their relative wealth going in, have resulted in vastly different outcomes.

0:57.2

It's almost been like a perverse global experiment.

1:03.8

So for our fourth season, the Paycheck Podcast is going to seven countries to try to understand how those variables affected economic inequality.

1:07.8

In many ways, the pandemic has made inequality much worse.

1:11.6

So this pandemic, we're witnessing the biggest increase in billionaire Welsh since records began.

1:18.6

And a billionaire was created every 26 hours during this pandemic.

1:23.6

If you just look at Elon Musk, for example, there was a lot of chatter at the time that he might have a chance to become a trillionaire.

1:31.2

But not everywhere or everyone has felt the pain equally.

1:35.3

Some places and people have been hit particularly hard.

1:38.5

For all Brazilians, the cost of living is really getting unbearable.

1:42.4

And it's the poor and the once booming middle classes that are bearing the brunt.

1:46.4

With COVID, it was so big because the problem was the schools had all shut down and a lot of

1:52.8

support that all these girls get comes from their schooling.

1:56.6

Suddenly, we started getting a lot of calls about child marriage.

2:00.7

But some others are showing the way to a more equal world.

2:04.7

Oh my goodness. I said, miss, it should please tell me I was selected and she was just laughing.

2:11.8

She's like, oh, y'all just killing me with this. I'm just loving the reaction.

2:15.7

For me, I see lights.

2:20.3

I see, like, I'm going to that moon that I wanted.

...

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