HomeNewsOpinionWe’re already late to school — Let’s not delay any further

We’re already late to school — Let’s not delay any further

Globally, this generation of students is at risk of losing about $10 trillion in future life-time earnings — an amount equivalent to almost 10 percent of global GDP 

August 04, 2021 / 14:53 IST
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Representative image
Representative image

Researchers took several decades to understand the long-term effects of school closures during World War II and the Chinese Cultural Revolution, and its impact on individual learning and future earnings. It will take several years to decipher the precise effects of COVID-19 school closures of 2021. The poor understanding of its future impact on the economy and society is perhaps making us dangerously complacent.

On an average, every student affected by school closure in a developing Asian country stands to lose an estimated $180 every year, equivalent to a 2.4 percent drop in average annual earnings in future. The lost earnings are projected to reach$16,000 over a student’s lifetime. Globally, this generation of students is at risk of losing about$10 trillion in future life-time earnings — an amount equivalent to almost 10 percent of global GDP. These losses reflect only the private income of the individuals and do not capture the social returns or the long-term benefits of education on health, scientific progress, gender equity, harmony or peace.

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E-bubble And Learning

The Indian elite who live in the e-bubble imagine that online classes have replaced schools just as Netflix has replaced the cinemas. First, only 42 percent of all mobile phone owners in India have smartphones. Second, sparing the device used by the parent for the child’s online classes isn’t easy. Additional purchase of a device is impossible thanks to the lockdown-induced financial crisis. It is estimated that in India, 23.8 million additional children and youth may drop out of classes this year due to the pandemic's economic impact alone.