No, it's not automation. [ In an effort to revive increasingly stagnant economies, governments have spent almost half a century imposing punishing austerity on their populations, underfunding schools, hospitals, public transportation networks, and welfare programs. At the same time, governments, businesses, and households took on record quantities of debt, encouraged by ultra-low interest rates. These trends have left the world economy in a dire state as it faces one of its greatest challenges ever: the COVID-19 recession. Dilapidated healthcare systems have been overrun with patients, and schools have closed that were vital sources of basic nutrition for many children, and of much needed daytime child care for parents. Meanwhile, the economy is tanking. In spite of massive monetary and fiscal stimuli, weak economies are unlikely to bounce back quickly from the shock. ]