This week we published two covers. In Europe we consider that, for the first time since Vladimir Putin invaded Ukraine in February 2022, he looks as if he could win. Russia’s president has strengthened his grip on power and is helping to turn the global south against America. Crucially, he is undermining the conviction in the West that Ukraine can—and must—emerge from the war as a thriving European democracy. The West could do a lot more to frustrate Mr Putin. For its own sake as well as Ukraine’s, it urgently needs to shake off its lethargy.

Leader: Putin seems to be winning the war in Ukraine—for now
Europe: Russia is poised to take advantage of political splits in Ukraine
Europe: Ukraine’s new enemy: war fatigue in the West

Everywhere else we look at shrinking wage gaps. The belief that capitalism is rigged to benefit the rich and punish the workers has shaped how millions view the world, whom they vote for and whom they shake their fists at. In fact, three forces that shape labour markets—demand, demography and digitisation—have each shifted in ways that benefit workers. If the blue-collar age endures, the effect will be profound.

Leader: A new age of the worker will overturn conventional thinking
Finance and economics: Welcome to a golden age for workers
Free exchange: Why economists are at war over inequality

For subscribers only: to see how we design each week’s cover, sign up to our weekly Cover Story newsletter.