Reference no: EM133273932

What is your general opinion of the statement below, as it talks about ethical concerns which covid 19 raised about capitalism

Some of the ethical questions COVID-19 raised about capitalism and how markets worked was who was affected the most by the pandemic. The pandemic indeed has shown how much someone makes can be an indicator of how someone would be able to survive the pandemic. Furthermore, there was inequality between different income groups, as was shown through the media in which celebrities were able to do things that a typical civilian wouldn't be able to do because of the resources they had. In the case of the US, for example, small businesses suffered the most compared to larger firms and organizations that had the facilities and resources to be able to survive the pandemic and not go under. There were many small businesses that were hanging by the thread, living paycheck to paycheck hoping that the pandemic would end very soon. Markets were formed to work toward specific groups of people, as the reading mentions the concepts of the black Marxist tradition and the theories of racial capitalism. From my understanding, the idea of racial capitalism is essentially the exploitation of individuals or a group of people, more specifically focusing on black people and people of color, and by all of this happening, capitalism is able to persist. And a quote that John Bellamy Foster uses that nicely culminates what has previously been written is, "labor in a white skin cannot emancipate itself where it is branded in a black skin."