Lots of people are starting to make guesses on what the impact will be from the pandemic on different industries over the next few years. No guess is better than another, so here is some speculation for your consideration.
The longer the economy of major states stay closed by deliberate choice of multiple governors the worse the effect is going to be. At some point there will be a disproportionately compounding effect with every extra week.
Discussion in this post brings together speculation for
- higher education,
- retail, and
This discussion will be posted on several of my blogs.
A flood of articles are discussing damage to the higher education world. Eventually all colleges and universities will concede they have to refund something in the range of half a semester of room and board.
More institutions are getting pressure, if not getting served with litigation papers, to refund a portion of Spring 2020 tuition. Pressure is growing to discount tuition in the fall if classes are held online.
There is a growing probability there will be a severe impact over the next few years. One of many articles discussing the possibilities:
5/11/20 – New York Magazine/Intelligencer – The Coming Disruption/Scott Galloway predicts a handful of elite cyborg universities will soon monopolize higher education – One commentator perceives there has been a substantial drop in the value, price, and product of higher education.