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Photographer: Nathan Laine/Bloomberg
Economics

An Intergenerational Contract for the Pandemic Age

The coronavirus is exacerbating tensions between those in power, and those who will pay the price for years to come.

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The hard reality of the Covid-19 pandemic is that while those at greatest risk of dying are retirement age or older, the economic disaster and its consequences fall disproportionately on the shoulders of the young.

How does it feel to be one of these people, knowing you’re on the hook for years of lost economic opportunity while others dictate the terms of any recovery? Bloomberg London news apprentice Eileen Gbagbo, age 21, reports on how the virus is inflaming intergenerational tensions. 

Then host Stephanie Flanders speaks with London School of Economics Professor and former Bank of England policy maker Charles Goodhart and Talking Heads Macroeconomics founder Manoj Pradhan about their book, “The Great Demographic Reversal.” They give their thoughts on why inflation is going to return and how automation can—and can’t—help future generations handle the burdens ahead.

And finally, we’re back at the Bloomberg New Economy Forum to hear from United Nations Special Envoy for Climate and Finance and former BOE Governor Mark Carney about how the world of finance is going to help the planet get to zero carbon.