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Reopening amid Delta variant surge deepens contradictions in global economy

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There is a deepening contradiction at the centre of the economic agenda being pursued in the major centres of the world economy, in particular the US and Europe.

On the one hand, the policy of re-opening, no matter what the health dangers posed by the Delta variant, and intransigent opposition to any policy of eradication, is pursued on the basis that nothing must be done that could impact the speculative rise of Wall Street and other stock markets over the past 18 months.

Worker carries drinks to a table at Puckett’s Grocery and Restaurant, Friday, Sept. 10, 2021, in Nashville, Tenn. (AP Photo/Mark Humphrey)

On the other, the continued wave of infections around the world, that this policy has produced, is hitting all areas of the economy, leading to disruption of global supply chains, the development of bottlenecks and rising inflationary pressures because of shortages. Problems in the supply of computer chips have attracted most attention, but the…

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