The Second Coming of Corona 2021

The COVID-19 crisis is now widely seen as the greatest economic calamity since the Great Depression. In January, the IMF expected global income to grow 3 percent; it is now forecast to fall 3 percent, much worse than during the Great Recession of 2008-09. Behind this dire statistic is an even grimmer possibility: if past pandemics are any guide, the toll on poorer and vulnerable segments of society will be several times worse. Indeed, a recent poll of top economists found that the vast majority felt the COVID-19 pandemic will worsen inequality, in part through its disproportionate impact on low-skilled workers.

Our evidence supports concerns about the adverse distributional impacts of pandemics. We find that major epidemics in this century have raised income inequality and hurt employment prospects of those with only a basic education while scarcely affecting the employment of people with advanced degrees.

 

We focus on five major events—SARS (2003), H1N1 (2009), MERS (2012), Ebola (2014), and Zika (2016)—and trace out their distributional effects in the five years following each event. On average, the Gini coefficient—a commonly-used measure of inequality—has increased steadily in the aftermath of these events. Our measure of the Gini is based on net incomes, that is market incomes after taxes and transfers. Our results show that inequality increases despite the efforts of governments to redistribute incomes from the rich to the poor to mitigate the effects of pandemics. After five years, the net Gini has gone up by nearly 1.5 percent, which is a large impact given that this measure moves slowly over time.

Such long-lasting effects of pandemics occur due to job loss and other shocks to income (e.g. lower remittances) and diminished employment prospects. Our results show that pandemics have had a vastly disparate impact on the employment of people with different levels of educational attainment, one indicator of skill levels. The disparity is stark: relative to population, the employment of those with advanced levels of education is scarcely affected, whereas the employment of those with only basic levels of education falls sharply, by more than 5 percent at the end of five years.

 

Policymakers must use the opportunity to make fundamental changes so that when future shocks inevitably occur, including for example from the effects of climate change, societies have in place risk-sharing and social assistance mechanisms that will protect the most vulnerable much better than they do today.

Labour Day 2021

 

 Labour Day

 

History of May Day

On 1st May 1886 labour unions in the United States of America decided to go on a strike. They demanded that workers should not be allowed to work more than 8 hours a day. The strike was followed by a bomb blast in Chicago’s Haymarket Square on the 4th of May. This incident also popularly known as the “Haymarket Affair” made May 1, one of the significant dates in history and was recognized to celebrate and honour the contribution of working men and women.

The protests in the U.S. also helped to establish the 8-hour workday norm in India and other countries in the world. Since then the 1st of May is celebrated as the International Labour Day (International Workers Day or May Day) in many countries across the world, including India.
However, in India, the very first Labour Day celebration in the country was held in Madras (Chennai), on 1 May 1923. A champion of workers’ rights and also one of the founders of the Communist Party of India, Malayapuram Singaravelu Chettiar launched the Labour
Kisan Party of Hindustan on this day.

labour day image

 

May Day – A Global Day

In Chicago, the USA, a union of workers had announced a general strike in 1886 for an 8-hour workday. The strike had turned violent. To control the crowd, the policemen started shelling. Bombs were thrown into the public. Many workers were killed and a few were injured. An overseas movement started with marches and uprisings happening annually on International Workers’ Day after a few years

Why is Labour Day celebrated in India?

In IndiaLabour Day is referred to as Antarrashtriya Shramik Diwas or Kamgar Din. Labour Day has its origins in the labour union movement in the United States. At the peak of industrialisation at the beginning of the 19th Century, industrialists used to exploit the labour class and made them work up to 15 hours a day

Who invented Labor Day?

Peter J. McGuire, a carpenter and labour union leader, was the person who came up with the idea for Labor Day.

 

Test2

History

A cheesesteak is a sandwich made from thinly sliced pieces of beefsteak and melted cheese in a long hoagie roll. A popular regional fast food, it has its roots in the U.S. city of Philadelphia, Pennsylvania.

(Source: Wikipedia – Ref: https://g.co/kgs/dik1ep)

Ingredients

  • Sandwich Bread roll or Hoagie Rolls
  • Sliced Vegetables(onion, mushroom, bell peppers, chilli pickles ) -100 Grams or as needed

Recipe

Toast the bread with butter. Cut beef steak into small pieces, sear them and Stir-fry on a heavy cast iron griddle, fry onion slices, pickled peppers, mushroom slices and bell peppers. Once cooked, melt cheese on to the beef and veggies. Fill into the bread and make sandwich roll.

Test1

History

A cheesesteak is a sandwich made from thinly sliced pieces of beefsteak and melted cheese in a long hoagie roll. A popular regional fast food, it has its roots in the U.S. city of Philadelphia, Pennsylvania.

(Source: Wikipedia – Ref: https://g.co/kgs/dik1ep)

Ingredients

  • Sandwich Bread roll or Hoagie Rolls
  • Sliced Vegetables(onion, mushroom, bell peppers, chilli pickles ) -100 Grams or as needed

Recipe

Toast the bread with butter. Cut beef steak into small pieces, sear them and Stir-fry on a heavy cast iron griddle, fry onion slices, pickled peppers, mushroom slices and bell peppers. Once cooked, melt cheese on to the beef and veggies. Fill into the bread and make sandwich roll.