To the extent there was ever justification for closing schools, emerging research demonstrates it has been an extremely long time since any such justification evaporated. Research from Wharton shows the severe, lifelong cost of losing out on two or three semesters of education.
This is the fifth in a series of posts reminding us we have completed one year of “fifteen days to smooth the curve.” In California, we have started our second year of curve smoothing.
10/12/20 – Penn Wharton School of University of Pennsylvania, Budget Model website – Covid: Trade-offs in School Reopening– Detailed economic analysis is thoroughly devastating to any argument there is any value in keeping schools closed and in fact there are substantive questions whether there was any value to closing any schools.
Summary
There will be permanent damage to the education level of most students with a serious adverse impact on lifetime earnings with a disproportionate impact on kids who are poor kids, disadvantaged kids, and persons of color.
Articles describing the destruction in the education world have been noticable to me over the last several weeks. Most of the articles have discussed the devastation in primary and secondary education.
Here are a few articles describing disruption in higher education:
Alternatives to traditional non-campus higher education are growing.
What might a post-covid higher education world look like? One scenario.
Lots of class-action suits against colleges for refunds are getting dismissed.
Destruction in the education world has been noticable to me over the last several weeks. Most of the articles have discussed the devastation in primary and secondary education. There will also be major disruption in higher education.
Today’s articles:
3 million missing kids.
Kids from poorer neighborhoods will suffer most from lost education.
Last December UNICEF warned against keeping schools closed.
As we finish our first year of shutting down education for our kids and shutting down the economy for everyone, evidence is emerging of what a terrible mistake we made.
A series of posts will commemorate this regrettable anniversary.
Today’s articles:
Worst public health mistake in a century
Lockdowns okay for those of us fortunate enough to be a part of the “Zoom class”
To illustrate the devastation from hyperinflation, we will now use Venezuelan Bolivares currency to see what it looks like in terms of paper currency.
To start, we will look at the currency itself.
As usual for currency outside the U.S., the paper money of Venezuela are esthetically beautiful. All the bills are colorful with lovely illustrations. All the ones we will now see have a nice sized watermark at the otherwise empty space. The watermarks are same face at the bottom of the obverse (front).
Portraits on the obverse of the currency are patriotic reminders of the struggle for Venezuelan independence.
To start our pictorial excursion, here are the obverses of the 2 Bolivar through 100,000 Bolivar currency:
2 – dated 12/27/12, featuring Francisco de Miranda, his efforts for independence in South America failed; he served as forerunner of Simon Bolivar.