 Wealth inequalities are exploded during and indeed because of the pandemic. When people talk about inequality, they are often thinking about inequality and income or inequality and wealth. Both are important and I shall talk about them, especially wealth inequality. But I want to start with a different kind of inequality, not distributional inequality, which is by who gets what, but relational inequality, which is the inequality when not everyone in society is treated as deserving equal consideration and respect. Inequality showed up first in the labor market. Many highly educated people could continue to work online and continue to draw their salaries. Those with spacious housing could do so in comfort with little or no inconvenience. Some of the less educated still did work, but risk contracting the virus, while others in transportation, retail, entertainment and a host of personal services had no work to go to. And like most contractions, unemployment fell most rapidly. Unemployment rose most rapidly for women, many of whom had child care responsibilities that made it impossible to go to work. Wealth inequalities are exploded during and indeed because of the pandemic. One estimate is that American billionaires have added a trillion dollars to their net worth, with Bezos the only centi-billionaire doubling his wealth, given that wealth is so unequally distributed, low interest rates exacerbate wealth inequality, arguably price that is worth paying to allow economies to recover from the pandemic. We know that executives award themselves bonuses when their firms are doing well, we saw whether or not the circumstances of their success have anything to do with our own behavior. Apparently the same is not true in bad times and there are press accounts of CEOs changing the compensation rules to ensure that the pandemic could not negatively impact their compensation. Never mind that hundreds of thousands are dying. The poor undernice in Britain were having a better opportunity of eating well during the war than they had at any other time. And if you look at the life expectancy increase over the decade, in the decade preceding the war decade, there were increase of life expectancy about one or one and a half years over the decade. But in the in the war decade, it went up by six and a half to seven percent because for the first time, people are being well being fed in a way that change a free existing inequality situation. And of course, that lesson was picked up again and again. I was very fortunate to work at the London School of Economics for a while. And LSE, that was one of the kind of these problems of a meritocratic and educated and cosmopolitan elite that is being benefiting from globalization and technical change while the less educated are just abandoned and have no political representation everywhere. That seems to be happening widely across Europe. I think it also happened in Eastern Europe when they sent Polish smartest kids off to work in the IMF or the EU or Brussels and so on. And so you also deprive those working class areas of their natural representatives. There's an amazingly interesting contrast today between the US and India. I mean, the US has been very successful at giving free shots to a very large share of the population, in spite of having a totally dysfunctional health care system, which was almost totally not used in dispensing vaccines. You didn't get them in hospitals, in the doctors' offices. You got them in government-run health, government-run facilities or later in pharmacies. But the US that believes in the market health care system provided these shots for free, whereas in India, they're selling them. And the fact that democracy with all its fault has some fault in America is to some extent, rather than the fact that the country without a national health service still managed to give people, try to get everyone a vaccine and give a high proportion already there. And where do you go? You go absolute everywhere. Your football stadium and everything was recruited for this purpose because there was pressure, democratic pressure in that direction.