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Value at COVID-19: Digitalized Healthcare, Luxury Consumption and Global Education

Author

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  • Julia M. Puaschunder

    (The New School,Department of Economics,USA)

Abstract

The new Coronavirus (COVID-19) accounts for the most severe health and economic threat since about a century. The human, medical and economic shock with major fallout in social, humanitarian and international development domains is the most tragic event having occurred since the Great Plagues of the medieval times, the Great Depression and the two World Wars. Yet in every crisis and lasting economic, societal and humanitarian shock, there are always positive externalities as well. While the author foremost respects the more important literature on the tremendous negative consequences and hidden inequalities and unnoticed despairs of COVID-19, this paper sheds heterodox light on the positive externalities and economic growth potential of the Great Pandemic of 2019. Three positive outcomes of the novel Coronavirus pandemic are captured in a foresighted outlook: (1) A digitalization disruption with particular focus on healthcare, preventive medicine and whole-rounded, ecofriendly lifestyles is perpetuated by COVID-19. (2) As in previous pandemics, luxury consumption that is prospected to flourish after consumption constraints and lockdown endurance may play a role in driving economic growth in the post-COVID-19 world. (3) Digitalized education and conglomerates in the educational sector may lead to universities becoming truly global temples of information exchange. The paper closes with potential ethical imperatives to ennoble our prospected future post-COVID-19 world to come. Overall, this paper aims at providing a glimpse of hope in despair and grievance over COVID-19 and advocates for equal access or redistribution of the merits of the gains from COVID-19 for living the dream of a better, more beautiful society than COVID-19 has hit before.

Suggested Citation

  • Julia M. Puaschunder, 2020. "Value at COVID-19: Digitalized Healthcare, Luxury Consumption and Global Education," ConScienS Conference Proceedings 006pj, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:conswp:006pj
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    References listed on IDEAS

    as
    1. Julia M. Puaschunder, 2019. "Artificial Intelligence Evolution: On the virtue of killing in the artificial age," Scientia Moralitas Journal, Scientia Moralitas, Research Institute, vol. 4(1), pages 51-72, July.
    2. Titus Corlatean, 2020. "Risks, Discrimination and Opportunities for Education during the Times of COVID-19 Pandemic," Proceedings of the 17th International RAIS Conference, June 1-2, 2020 004tc, Research Association for Interdisciplinary Studies.
    3. Schmelzing, Paul, 2020. "Eight centuries of global real interest rates, R-G, and the ‘suprasecular’ decline, 1311–2018," Bank of England working papers 845, Bank of England.
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    More about this item

    Keywords

    Access to education; Coronavirus; COVID-19; Digitalization; Economics; Education; Equalizer; Healthcare; Luxury; Medicine; Pandemic; Technology; Value;
    All these keywords.

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