Lockdown schools to be costly for students future
Politicians and economists are reacting to new data showing that the damage school closures during the coronavirus pandemic inflicted a "global disaster" upon children was even worse than previously thought.
Data published by The Economist from the World Bank this week shows that the percentage of 10-year-olds in low and middle income countries who can’t read has risen 13% since the start of the pandemic, and the share of children in Latin America who can’t read rocketed from 50% to 80%.
With schools closed, children were prevented from mastering the basics, which causes them to earn less in the future. The McKinsey consulting firm estimates that school closures will cause the global GDP to be 0.9% lower, representing an annual loss of $1.6 trillion.
According to the World Bank, school closures cost children $21 trillion in earnings over their lifetimes which is far more than the $20 trillion estimation in 2020.
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I would not be surprised to see the politicians responsible for the lockdowns being sued for the damage inflicted on the students.
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