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The Unraveling of America

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The Unraveling of America

Photo caption: The COVID crisis has reduced to tatters the idea of American exceptionalism. Gary Hershorn/Getty Images. Article by Wade Davis.

Anthropologist Wade Davis on how COVID-19 signals the end of the American era

Never in our lives have we experienced such a global phenomenon. For the first time in the history of the world, all of humanity, informed by the unprecedented reach of digital technology, has come together, focused on the same existential threat, consumed by the same fears and uncertainties, eagerly anticipating the same, as yet unrealized, promises of medical science. […]

But when all the old certainties are shown to be lies, when the promise of a good life for a working family is shattered as factories close and corporate leaders, growing wealthier by the day, ship jobs abroad, the social contract is irrevocably broken. For two generations, America has celebrated globalization with iconic intensity, when, as any working man or woman can see, it’s nothing more than capital on the prowl in search of ever cheaper sources of labor. […]

Today, the base pay of those at the top is commonly 400 times that of their salaried staff, with many earning orders of magnitude more in stock options and perks. The elite one percent of Americans control $30 trillion of assets, while the bottom half have more debt than assets. The three richest Americans have more money than the poorest 160 million of their countrymen. Fully a fifth of American households have zero or negative net worth, a figure that rises to 37 percent for black families. The median wealth of black households is a tenth that of whites. The vast majority of Americans — white, black, and brown — are two paychecks removed from bankruptcy. Though living in a nation that celebrates itself as the wealthiest in history, most Americans live on a high wire, with no safety net to brace a fall. […]

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