Moderna is a BioTech company that has had some recent success with a covid-19 vaccine in clinical trials – vaccine mRNA 1273.
There’s a video about it here:
Moderna says it has the capacity to produce 1 billion shots of the vaccine in 2021 and has already sold most of those shots to rich governments, and stands to make an estimated $8 billion next year from the vaccine.
In one deal the US government has agreed to pay $1.5 billion for 100 million shots (pending agreement of emergency legislation in January). The U.S. also has the option to buy a further 500 million doses (it might take two shots per person to work, so that would cover most of the US population).
As this article from Global Justice Now points out most of this new vaccine has already been bought up by rich world government.
There doesn’t appear to be much hope that developing countries will gain access to this vaccine in 2021, given that those 1 billion shots the company can produce have already been reserved for richer countries.
The rich benefit
Global Justice Now also report (in the article linked above) that this new vaccine has been funded with nearly $2.5 billion of public money, but with governments paying at least another $8 billion on top of this, this really does seem to be a tidy profit for Moderna.
Moderna’s stock has been increasing ever since it started leaking news about positive progress being made on the vaccine, with two leading executives having cashed out shares and made $30 million each.
The stock continues to rise on the back of the deals being struck with western governments for courses of the vaccine. It has quintupled in value since it started work on the vaccine….
Relevance to global development
This topic is clearly relevant to health and development, and also several theories of development.
This is clearly an example of a Transnational Corporation playing a positive role in development – it is developing a vaccine that will help combat a global pandemic, but we need to go further….
This is also an argument against neoliberal theories of development – governments are very involved here – tax payers money has provided a seed fund for this company and it is governments agreeing to buy the vaccine.
Finally, this seems to support global pessimist theories of globalisation – it is governments with the money and thus people in rich countries who are initially going to benefit from this vaccine, the poor in poor countries are going to have to wait.
We don’t know yet how developing countries are going to pay for this vaccine – if they have to pay? Will it be donated, will it be funded with loans?
That remains to be seen, but for now it seems like it’s vaccines for the rich, nothing for the poor!
I really don’t understand why there is such a panic over exams next year, when the solution is quite simple:
Put all other school years not doing exams on a part-home study schedule with about 1/5 of their lessons to be done at home, self-study for the duration of the exams.
This means every class gets 1 day home-study a week, make it the same day of the week per class for simplicity. So class 1A is always Monday, class 1B always Wednesday and so on.
This will free up 1/5th of classrooms, set them up as exam-rooms.
1/5th of classrooms will be equivalent to the entire cohort (year 11) sitting their GCSE exams, so sufficient room even for those large compulsory exams such as English.
If classrooms are a little cramped, a portion of the class could sit the exam in the regular exam hall (typically the sports hall) – but the extra space created by the classrooms being used should allow an extra measure of social distancing.
Simply get GCSE students to sit their exams in their regular class-sets, even if in different class rooms.
If necessary mix the teachers up as invigilators and get volunteer parents in to be second invigilators.
As far as I can see it the above is a pretty minimally disruptive way of minimising disruption for regular teaching while maintaining ‘class bubbles’ and the integrity of the exams.
Parents coming into the school will not increase the risk of transmission of covid compared their kids coming in!
OK there will be a bit more mixing of people than in regular classrooms, but honestly, will it be more than takes place during regular break times?
OK it’s a bit of hassle for the parents who may need one day off of work a week to look after their children, but it’s only for a month of exams.
I fail to see what all the fuss is about!
Of course with A-levels it should be a no-brainer to not scrap them – with those you COULD send the entirety of year 12 home to study independently for 3 weeks while the exams take place which really would create sufficient classroom space for the A-levels – year 12s are 16/17 so need no legal adult supervision at home!
Then teachers can simply teach the year 12s until the bitter-end of the summer term -right up until the 20th of July if necessary, rather than letting it all ease off.
Coronavirus has had a negative effect on economic growth. Lockdown measures imposed by governments the world over have seen disruption to global supply chains, a decrease in international trade, an increase in unemployment, and a decrease in investment and global wealth in general.
Coronavirus has decreased global wealth
Probably the easiest way to summarise the economic consequences of coronavirus is to look at the impact it has had on Global Wealth, which I’ve already summarised in this blog post here.
Global Wealth has decreased by $8 trillion compared to where it was projected it would have been before the outbreak of the pandemic.
Personally I find this the most useful individual indicator, as it just takes one static gross snap shot figure and compares it with another, it’s very easy to understand.
Coronavirus has pushed most countries into recession
However, we need to look at a lot more figures to get a fuller picture.
Further reports emphasise the near universal negative consequences of Coronavirus:
This report (June 2020) by the World Bank predicts a 5% decrease in global GDP over the coming year, the largest decline since the 1870s, with all regions and countries showing significant cuts to their expected (pre-covid) economic growth rates.
The consequences of this economic slowdown which will be declining rates of investment, job losses and a corresponding decline in the rate social development in many developing countries.
Some sectors have been especially badly hit – the price of oil fell drastically with the Pandemic, but the agricultural sector has not been so badly effected. As a general rule, you might say that the less essential the sector, then the more it has been affected!
This report highlights that no country will escape the effects of Covid-19 unscathed, but China and Asia will probably fair better than the rest.
How Coronavirus Disrupted Global Supply Chains
The immediate impact of Coronavirus was a significant disruption to global supply chains, meaning that many global retailers struggled to maintain stocks of their products.
Supply chain problems also meant that manufacturers had to slow down or cease production of their products altogether, because they struggled to source raw materials.
Lockdown measures imposed in China in early 2020 were the main cause of this, because China is the world’s biggest manufacturer – it not only produces a lot of ‘end products’ (such as iPhones) but it also manufactures a lot of components that factories in other parts of the world need in the products they produce.
To find out more, this article by Bloomburg outlines how disruption to global supply chains impacted a variety of businesses all over the world – from watchmakers in Hong Kong to Lobster fishermen in New Zealand, it does a great job of highlighting the truly global effects of the Pandemic.
According to analysis of data on Tradeshift (a global supply platform) by the World Economic Forum global trade fell dramatically in February – April 2020. Chinese trade transactions fell by over 50% in March 2020, and the United States and Europe followed suit with a 26% drop in April, and a 17% drop after that.
The article suggests that as Chinese trade declined because of lockdown measures, global manufacturers struggled to source materials from other countries and so their production also slowed down.
What Coronavirus has revealed is that the world has become very dependent on China as the source of products – and when it goes into lockdown the rest of the world suffers.
The article further suggests that manufactures will probably look to diversify their supply bases in the future so as to be less dependent on China – and countries such as India, Vietnam and Mexico will probably be the main beneficiaries from this.
Another possible change might be more production in developed countries, further decentralising global supply networks,
So maybe the long term impact of globalisation will be a much more diverse form of economic globalisation (with China being less dominant) and maybe a reversal of the globalisation of manufacturing if we end up with more manufacturing taking place in developed countries?
The effects of Coronavirus on Transnational Corporations
A 2020 World Bank survey of Multinational Enterprises found that more than 90% had been negatively impacted by the Coronavirus Pandemic.
75% reported decreasing reliability of supply chains (meaning more difficulty in producing stuff) and decreasing worker productivity.
Half of MNEs surveyed have cut investment in developing countries by an average of 30% and 40% have reduced employment by an average of 16% – so overall that’s an average reducing of 15% investment and around 7% in employment.
The report (linked above) calls on governments to provide tax breaks to MNEs as well as more deregulation, so in other words more neoliberalisation, which is unsurprising coming from the World Bank.
Not all sectors have been affected equally
As has been reported widely, sectors of the economy associated with travel and leisure, such as the oil and aviation sectors have been affected very badly, with the number of flights taken being significantly reduced.
However, one sector which is doing better, with the hope of a vaccine coming soon, is the Pharmaceutical sector:
NB – these aren’t the only economic consequences of Coronavirus – I will cover the human cost in a separate post, in which I focus on the disruption to people’s working lives – the small enterprises struggling with lockdown measures, and how so many people are struggling to cope with reduced income and job losses.
This post focuses on a recent report produced by Credit Suisse. It is primarily written for students studying the Global Development option for A-level sociology, and is meant to serve as an update on Global inequalities!
In 2019, Privately Owned Global Wealth had grown to $399 trillion, an almost 9% increase on the previous year, according to Credit Suisse’s latest 2020 Global Wealth Report, which focuses on both wealth trends to 2019 and the impacts of Coronavirus on wealth up until June 2020.
That 9% increase from 2018 continued a long term trend of increasing wealth over the last two decades. In the year 2000, global wealth stood at $118 trillion (at current US prices) and has risen on average by 6.6% per annum since then, with a significant decrease (and subsequent recovery) in 2008 with the financial crisis.
NB – wealth is not distributed evenly and the map below shows the median net private wealth per household in different countries in 2019,
The impact of Coronavirus on Global Wealth
The Global Wealth Report notes that to June 2020 Coronavirus has cost the global economy around $8 trillion, in terms of what economic growth was predicted to be.
We see a rapid decline in global wealth per person January to March, when Coronavirus was taking hold, but then a recover, as governments around the world stepped in with stimulus packages.
The chart above also shows you that we’ve basically just had zero growth in wealth since from 2019 to June 2020.
However, you can see that by June 2020 there has been a decline in wealth per person of around $3 000, compared to projected growth which never happened!
The Economic Impact of Coronavrius on Different Regions
The chart below shows the impact by region
The impact of Coronavirus up until June 2020 seems to have been minimal on most regions if we compare the 2019 projections with the actual figures to June 2020.
The global average decline in wealth to June 2020 is – 2%, and most regions have seen around a 2% decline, compared to what was expected, overall we simply have almost 0 global growth compared to an anticipated 2% increase!
There are minor variations across regions, but nothing too significant according to the figures above!
There are significant variations by country
However, if we look at the impact of Coronavirus on wealth by country, we do see significant differences emerging:
The above chart shows us that to June 2020 the UK’s average household wealth declined by 7%, while China’s increased by 4%. Meanwhile the USA has seen almost no change to private household wealth!
This infographic shows the biggest percentage gains and losses per individual by country
We can see some dramatic variation here, with Brazil and South Africa’s per person wealth declining by around 25%, supposedly due to Coronavirus, while quite an eclectic mixture of countries have seen their individual wealth increase by 5%
NB – the figures look more dramatic if you look t the dollar amounts:!
Projections for future wealth growth
The Global Wealth Report is optimistic about future growth potential in most regions, especially India and China
How valid is this data?
NB – this report is latest based on available data, but it was written before the latest wave of lockdowns in November 2020.
The report is very clear that these global wealth trends could change dramatically depending on how Coronavirus and the societal reaction to it develops!
You need to be sceptical I think about the focus of this report – it is on global wealth, rather than global poverty, if you look at the later (poverty not wealth) you realise that there are millions of people around the world who are being pushed into poverty because of Coronavirus (more of that later!) – but you miss out on this in this report because it’s been written mainly (I think) for a Western audience, and you get the impression that’s everything is OK.
This report by Alianz and the World Bank gives you a different impression, talks of a ‘wealth buffer’ which insulates the wealthy from the worst effects of the economic downturn caused by the Pandemic, but it also talks about how millions of those towards the bottom are being pushed into extreme poverty.
You might remember that above the Credit Suisse report shows a negative 2% economic growth rate in Africa, then says nothing else about it – well, that basically means a LOT more people pushed into poverty, which is what the Allianz/ World Bank report focuses on!
Note: Definition of ‘Net Worth’ or Wealth
According to the Global Wealth Report, Net worth, or “wealth,” is the value of financial assets plus real assets (principally housing) owned by households, minus their debts. This figure includes the net value of all the assets a household owns if sold and their private pension fund assets. The figure does not include any state entitlements/ benefits or state debts.
If that wealth average wealth were distributed equally then every adult would have around $77 000. H
In 2019, Privately Owned Global Wealth had grown to $399 trillion, an almost 9% increase on the previous year, and continuing a long term trend of increasing wealth over the last two decades.
The government’s response to the Coronavirus Pandemic primarily focused on protecting the very old, who have the highest chance of dying with (although not necessarily from) Covid-19 if they catch it.
However, the drastic lock down strategy introduced back in March 2020, which closed all schools in England and Wales as well as many work places for several months has left children ad young adults ‘scarred for life’ according to many experts within SAGE (The Scientific Advisory Group on Emergencies), as summarised in this Guardian article.
Children have been negatively impacted through their schools being closed for 4 months, with some being hit further by local lockdowns more recently in September and October.
While schools did put in place online learning programmes, the quality of these varied from school to school and many children have been left 6 months behind with their learning, having now to catch up.
Then there’s the damage done to children’s social development – with their not being able to go out for 4 months and socialise face to face, and the added stress and uncertainty of just being subject to the ‘covid-climate’ in Britain (it hasn’t exactly been a fun or easy going year has it?!?).
If there’s any truth in Sue Palmer’s theory about toxic childhood, keeping children indoors for extended periods most definitely wouldn’t have done their mental health any good, which is something the SAGE experts are particularly concerned about!
While it might seem that 16 and 18 year olds who sat exams in 2020 got of relatively lightly because of their school predicted grades being inflated, let’s not forget that this would have been stressful and unpleasant for many of them, and we’ve now also got about 10% of these students enrolled on A-level programmes or degrees their probably not qualified to do because of their inflated grades, so there’s probably going to be higher failure rates and drop-out rates to come later this year.
Where young adults are concerned (18-24s) this age group has been most affected by the increase in unemployment in the wake of the Pandemic:
(The graphic shows 16-24s, but there aren’t that many under 18s in employment, so it’s mainly 18-24 year olds)
I guess this is because they are more likely to be working in the kinds of sectors which have been hit hardest by the virus – namely the hospitality sector, and while Furlough would have offered some protection, many hospitality sectors businesses are now starting to fold as consumers are just more reluctant to eat and drink out.
Looking at the longer term – if we have a recession, it’s likely to be younger people that suffer more as they struggle with the legacy of a disrupted education and fewer opportunities to get their first jobs.
Relevance to A-level sociology
Age stratification isn’t a major topic in most options, but perhaps it should be, as this is a great example of how the young seem to be suffering more than any other age group.
It certainly shows the limitations of the government’s capacity to deal with a crisis. Anthony Giddens famously said that Nation States are too small to deal with global problems – and here we have a government simply not having the resources to help everyone in society when faced with a global pandemic.
IF you think we need the government to help us through this mess, then this is a criticism of neoliberalism, which argues for less government.
However, you might just regard such reports as the one linked above by The Guardian as part of an exaggerated risk consciousness, and think that maybe young people haven’t been harmed at all by this crisis – maybe they are perfectly capable of being innovative and adapting to this crisis in new ways we haven’t even thought about yet?!?
The most obvious impact of the 2020 Coronavirus on education was the cancellation of GCSE and A-level exams, with the media focusing on the chaos caused by teacher predicted grades being downgraded by the exam authority’s algorithm and then the government U-turn which reinstated the original teacher predicted grades.
While it’s fair to say that this whole ‘exam debacle’ was stressful for most students, in the end the end of exam period cohorts ended up getting a good deal, on average, as they were able to pick whichever ‘result’ was best.
It’s also fair to say, maybe, that most of the students who missed their GCSEs and A-levels didn’t miss out on that much education – what they missed out on, mostly, was the extensive period of ‘exam training’ which comes just before the exam, which are skills that aren’t really applicable in real life.
However, in addition to the exam year cohorts, there were also several other years of students – primary and secondary school students, and older students, doing apprenticeships and degrees, whose ‘real education’ has been impacted by Covid-19.
This article focuses on some of the recent research that’s focused on these ‘other’ less newsworthy students.
This post has primarily been written to get students studying A-level sociology thinking about methods in context, or how to apply research methods to the study of different topics within education.
Research studies on the impact of Coronavirus on Education.
I’ve included three sources with lots of research: the DFE, The NFER and the Sutton Trust, and then a few other sources as well.
The Guidance for the Full Opening of Schools recommends seven main measures to control the spread of the virus.
This guidance suggests there is going to be a lot more pressure on teachers to ‘police’ pupils actions and interactions – although ‘social distancing’ is required only dependent on the individual school’s circumstances, and face coverings are not mandatory. So schools do have some discretion.
All in all, it just looks like schools are going to be quite a lot more unpleasant and stressful places to be in as various measures are put in place to try and ensure contact between pupils is being limited.
The National Foundation of Education Research (NFER)
The NFER has produced several mainly survey based research studies looking at the impact of Coronavirus on schools.
Private schools were about twice as likely to have well-established online learning platforms compared to state schools, correspondingly privately schooled children were twice as likely to receive daily online lessons compared to state school children.
75% of parents with postgraduate degrees felt confident about educating their children at home, compared to less than half of parents with A-levels as their highest level of qualification
50% of teachers in private schools said they’d received more than three quarters of the work back, compared to only 8% in the most deprived state schools.
Research from other organisations
This article from the World Economic Forum provides an interesting global perspective on the impact of coronavirus – with more than a billion children worldwide having been out of school. It highlights that online learning might become more central going forwards, but points out that access to online education various massively from country to country.
The Institute for Fiscal studies produced a report in July focusing on the financial impacts of Coronavirus on Universities. They estimate that the sector will have lost £11 billion in one year, a quarter of income, and that around 5% of providers probably won’t be able to survive without government assistance.
This article in The Conversation does a cross national comparison of how schools in four countries opened up. They grade their approach. It’s an interesting example of how some social policies are more effective than others!
I’ve by no means covered all the available research, rather I’ve tried to get some breadth in here, looking at the impact on teachers and pupils, and at things globally too.
By all means drop some links to further research in the comments!
Several large Corporations have created adverts tapping into our new ‘Coronavirus’ norms.
There seems to be a pretty formulaic structure involving images of key workers with thankful messages, images of people in their homes communicating via Zoom or some other video conferencing app, and finally a reference (the point of the ad) to how the Corporation is ‘here to help’.
Just a couple of examples….
Tesco – Food Love Stories
No surprise that Britain’s largest Supermarket Chain has got in there with a very aggressive ad campaign showing how (Tesco’s) Food brings people together either in times of crises – real colonisation of the lifeworld going on here – ‘new intimate’ moments brought to your courtesy of Tesco.
And of course the # to try and get the super-mugs to advertise for free for them.
Virgin Media – Stay Home Stay Safe, Stay Connected
What these ads are doing is attempting to ‘colonise our lifeworlds’ – they are either taking footage of ordinary people connecting online in these social distancing times, or using actors to create such footage (I don’t know which) and then ’embedding’ themselves right in the middle of these interactions.
And then they are further suggesting that what binds us all together in our isolation are these Corporations – they are ‘here for us all’ here to ‘help us all through’ as if they’re some kind of benevelant parental figure.
This is false consciousnesses and the creation of false needs on steroids – trying to convince us that these Corporations are here for the social good?
Let’s remember that behind the scenes these Corporations are interested in one thing only, and that is profit. In fact I imagine both of the above Corporations are going to do very nicely out of Coronavirus – especially Tesco.
Virgin as a whole may suffer because of its transport holdings, but I imagine Virgin Media will see a boost.
What’s really going on here are these Corporations embedding, or at least attempting to embed, themselves into our psyches, so that we become more committed to them in the future as we get through Coronavirus and come out the other side.
I’ve been adding a copy of The Sun newspaper to my basket every time I do my lock down shop, primarily because it at around 50 pence it’s pretty cheap!
The Sun is also Britain’s most widely circulated newspaper, so it’s worth doing a bit of casual content analysis on it during these unusual coronavirus times – this is the paper most people are reading, after all!
One of the main themes I’ve noticed is moralising through shaming, and today’s paper (Friday 8th May) is a great example of this…..
On the front page we have the paper moralising against ‘Just Giving’ taking a £300K fee from Captain Tom’s fundraising efforts.
On pages 5-6 we have public shaming of businesses and shops for ‘flouting’ lock down rules on a sunny day yesterday
Later on pages 8-9 we have a detailed map of England footballer Kyle Walker’s lock down violations as he visits his sister, mother and father and friend for a cycle ride.
All of these events are newsworthy based on their news values, but The Sun goes beyond objective reporting and adds a shaming element through the use of language: ‘Walker the Plank’ as a title, for example.
And it’s not just The Sun being Paternal… apparently Dominic Raab has said that if people take advantage of the lockdown gradually being relaxed, they’ll restrict the rules again, as if we’re all like a bunch of school children?!?
Today is Captain Tom’s 100th Birthday, an event broadcast live to the nation by BBC Breakfast between 8.00 a.m. to 8.30 a.m.
Captain Tom really is the perfect media hero for our times, and the construction of ‘our national hero’ was levelled up this morning as it turns out Captain Tom seems to be a huge fan of many of the symbols which signify classic conservative ideas about ‘Britishness’.
Honestly, it was all there, crammed into a 30 minute slot on BBC breakfast this morning….
The Armed Forces and the Fly By…
We know him as Captain Tom, but he’s now been given the honorary title of ‘Colonel’, so take your pick (he doesn’t mind). He got a special fly by this morning, and really seemed to love it!
You can check out the fly-by and most of the rest of the BBC ”Tom show’ below…
The historical Link to World War II
There aren’t many WWII veterans alive, but Captain Tom is one of them, and WWII – that’s deep in the conservative idea of the nation!
I guess this link is even more popular because of the fake similarities with ‘fighting’ Coronavirus.
His love of the Royal Family
Captain Tom thanked the Royal Family (who he thinks are wonderful) for their letters of support.
This ‘deferral to authority’ goes along with being in the armed forces I guess. Very much part of Conservative Britishness.
The countryside village in which he lives
Ironically the only thing not British about the village is the name – Marston Moretaine, maybe that’s the result of a French twinning project?
But everything else about it seems quintissentially British – it’s bang in the middle of Oxford and Cambridge, so proper ‘home counties’, lovely fields and a church.
It’s basically a cross between ‘Midsommer Murders’ but without the murders, the Vicar of Dibley and Last of the Summer Wine, with the poor people hidden from site.
His Love of Cricket
Tom is a lifelong cricket fan, and he was today presented with an honorary membership of the England Cricket Club, and gifted a hat by Michael Vaughn, once captain of England.
Is there a sport that says ‘conservative England’ more than cricket?
You’ll Never Walk Alone
A number one in 1963, and Liverpool Football Club’s Anthem – you don’t get much more British than early 1960s pop music and one of our longstanding Premier League clubs!
Honestly, they seem to come across as perfect. His grandson’s got that ‘healthy rugby build’ about him, and his granddaughter just seems so perfectly sweet. Framed with Captain Tom’s daughter (presumably their mother) you get the impression of the perfect British nuclear family, albeit stretch out by one generation.
And let’s not forget the NHS
It was Captain Tom’s efforts to raise money for NHS that propelled him to media stardom, and the NHS is part of our ‘national identity’ too, especially recently!
What are we celebrating exactly?
This morning was a ‘pause for celebration’, and fair enough in some respects, but what are we celebrating?
I personally think I witnessed something extremely hyperreal on BBC Breakfast today. The media seems to have used Captain Tom’s 100th birthday as a chance to reinforce conservative ideals about Britishness, ideals that don’t really exist outside of the upper middle class echelons of society.
Maybe this is because Captain Tom (he went to a grammar school in the 1920s!) and media professionals are both of the upper middle class, that this kind of celebration of traditional British identity comes so naturally to them.
I also thought Captain Tom’s efforts were about raising money for the NHS and helping to tackle Coronavirus, but this seems to have just got lost somewhere along the way?
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