When even the bankers of the ultra-rich, along with the bailiffs working diligently on their behalf, are panicking about excessive inequality, it becomes hard to say our world is morally defensible. UBS recently reported that, between April and July 2020, as the pandemic’s first wave was surging, the collective stash of the world’s billionaires grew by 28 per cent and many millionaires joined their ranks. Surely the Swiss megabank is happy to see them laughing all the way to its doors, but it is also genuinely worried.