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From the Editor's Desk
Luxury and Hunger: Two Faces of an Unequal Pandemic
Mercedes-Benz AG recently introduced its Maybach sport utility vehicle in India - right in the middle of a fierce second wave of the pandemic. The 50 cars the German automaker wanted to sell by the end of 2021 were lapped up in a month. It turns out that just as the rich were scrambling to own these $400,000 wheels, annual per capita income was sliding below $2,000, with the country falling behind neighbouring Bangladesh.
Colleagues at Bloomberg News recently chronicled a story that's becoming all too familiar: Shoemaker Shyambabu Nigam had to sell his modest house to pay the $8,230 medical bill from his wife's Covid-19 complications. One of his three leather-sewing machines is also gone. The debt-strapped couple is renting a room in a nearby village. Well-meaning initiatives, such as a government-backed emergency credit line that has been available to small businesses since last May, can’t reach highly informal micro units like Nigam's.
Continued here
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