The COVID-19 pandemic has disproportionately affected black women, not only in growing unemployment rates but also in increased death rates. Goldman Sachs has committed to $10 billion going toward expanding economic opportunities for black women, having found that a black woman’s wealth is 90% lower than a white man’s, in addition to the struggles the pandemic has presented for the black community. This episode of Marketplace also discusses how restaurants will benefit from the relief package and why grocery stores are making investments into robots.
Amazon is beginning its own telemedicine system this summer, allowing participating companies to see a nurse or doctor remotely. This marks a shift in the healthcare industry, as it is predicted that close to 60% of doctor’s visits will be done remotely following the Covid-19 pandemic.
This podcast also discusses The Federal Reserve Bank’s decision to keep interest rates low, fewer numbers of students filing for federal student aid, and remote work in the automobile industry.
As vaccines begin to roll out there will be disparities between cities, states, and countries due to the fact that there are not enough vaccines to give out at once. The time differences between areas will have lasting effects on how economic growth takes place. This episode of Marketplace also discusses other issues facing the U.S. such as the number of women in the workforce and the terrible effects of gun-violence on children.
About 100,000 businesses have had to shut down due to Covid-19, and the ones who have survived have had to change many aspects of product promotion. This is in part due to the changes we have seen in consumer behavior because of the pandemic. One way companies are adapting is by starting to sell for holidays now to combat the economic blow they have suffered because of Covid-19 and to make sure there are no shortages of products once the holidays arrive.
Original Air Date: October 12, 2020
Length: 28 minutes, 22 seconds
Discussion Prompt 1: What other ways have you seen businesses adapt to the impacts of Covid-19?
Discussion Prompt 2: Do you think Covid-19 will permanently alter the way consumers behave? If so, how? What about businesses?
There is increasing demand for a Covid-19 vaccine, and although many are developing, scientists are still unsure when an effective vaccine will be finished. There is also concern that low income countries will struggle to gain equitable access to the vaccine once it is produced. Thomas Cueni, the director general of the International Federation of Pharmaceutical Manufacturers and Associations emphasized the importance of high income countries buying into efforts which would subsidize lower income countries.
Summary: Economics is a young and growing field. Although, it has one of the lowest portion of women in its academic ranks. Similarly, to the business world, the lack of women in economics has large consequences on our understanding of the world. Marketplace stresses that this leads to the lack of diversity, fresh ideas, and discussion which means our economic understanding of the world is only half-baked.
Summary: Work around the house and for the family is unpaid work and mostly done by women. This reduces their labor force participation and ultimately hurts the GDP of a country. Melinda Gates suggests reducing the work through innovation for the developing countries and redistributing the work amongst partners for developed countries. Higher levels of equity between the sexes will contribute to a stronger social fabric and economy.
Summary: In light of the cost of transgender health care, President Trump has advised the Department of Defense to eliminate transition-related care for veterans and active duty transgender troops due to potential high costs that the U.S. can face. Though, in this podcast, one argues that the actual expenses will come from firing perfectly competent transgender troops and training future armed forces. Morality, gender issues, and politics are factors that clash together in this podcast.
Summary: A large percentage of immigrants move to the United States because they are related to someone who is an American citizen. Whereas, a smaller portion of immigrants come from workers who get visas because they have some needed skill in the workforce. In this podcast, Marketplace considers how a country can find a balanced policy in immigration reform. If immigration is too limited for the labor market, employers lose the number of unskilled workers that they may need for the success of their companies.
Summary: With significant damages caused by two major hurricanes that recently took place, it is no surprise that the road to recovery will be a long and an expensive one for the affected areas. This podcast considers the statements of President Trump and his stance on Puerto Rico’s debt, as well as Janet Yellen’s view on regulation. In addition, consider concerns whether the financial system of the U.S. itself has been stable and transparent.
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