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

Author(s): Julia M. Puaschunder
Subject(s): Health and medicine and law, Economic development, Distance learning / e-learning
Published by: Scientia Moralitas Research Institute
Keywords: COVID-19; Digitalization; Economics;
Summary/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.

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