Overview
The novel coronavirus, COVID-19, has drastically affected the social and economic states of the world this past year. What started as a third-page headline has morphed into a global pandemic, sweeping a all continents excluding the unpopulated Antarctica.
History is largely called upon to deal with present issues, namely because human and natural patterns are abundant and evident. Scientists have unceasingly referred to the Spanish Flu of 1918, a global influenza pandemic, for both similarities and differences to COVID-19, seeking refuge in potential parallels to the current situation. Surprisingly, the global economy reacted on opposite ends of the spectrum: the 1918 economy was mostly unaffected, while the economy in 2020 has declined greatly. Several insights have helped to explain the reasons behind this disparity, some more simple than expected.
Background
Before diving into the specifics of the noted economic differences, it is important to understand the context of both pandemics.
The Spanish Flu took place on the heels of World War 1 near 1918, wiping out approximately one third of the American population. It originated from birds and is thought to have began in New York after conflicting research. Healthy, middle-aged people from ages 20 to 40 were most affected.
The coronavirus was identified in 2019 and has killed approximately 1.4 million people worldwide. It is believed to have originated from bats, and impacts older people in addition to those with underlying health conditions.
Why?
Beginning with the most basic reason, the medical and societal responses varied between the two pandemics, causing varied economies. Currently, technology has enabled working from home capabilities, allowing for severe social distancing practices among employees and students as well. While social distancing was implemented in 1918 as well, its extent was limited for commercial purposes: during WW1, the US government required the production of wartime materials to sustain their war effort, leaving factories and mines open. WW1 created a demand that essentially subsidized economic loss in 1918.
Furthermore, modern-age science creates a shield, protecting humans from unfamiliarity. Technology and scientific advancement allow people to simply ‘evade’ the virus at home or rely on advanced treatment and protective gear. In 1918, to stop going to work meant bringing a family to the streets, and to stay home during school meant creating an uneducated generation; carrying on with daily life was almost necessary. Now, people expect more from their lives, and have the modern option of stalling normalcy to care for their health. The economy is allowed to suffer for human safety.
Advancements in technology have resulted in diverging economic responses to these seemingly similar pandemics.
Inequity
The Spanish Flu of 1918 “did not require hospitalization in the vast majority of cases” though the coronavirus has caused supply and service shortages in numerous hospitals so far this year.
The 1918 situation left no intrinsic difference between the wealthy and poor: no vaccines, advanced medicine, or special protective gear. As mentioned earlier, a complete lockdown was also not feasible due to wartime demands and a lack of work from home technologies.
In 2020, COVID-19 impacts the economic situation of the wealthy and poor differently. Factory employees, for example, cannot tolerate a lockdown which would stifle their income. Wealthy individuals, on the other hand, have access to technology and resources which allow them to quarantine and protect their health better. The wealthy are also supplied with better care after contracting the virus, though it is difficult for the poor to find ample resources.
In addition to overall economic stability, both viruses had different affects on the social stratification of society through wealth.
What Now?
It is important to understand the context of history and how it applies to current times, as the similarities and differences help prepare for the future. Individual safety is of utmost importance right now, though there are plenty opportunities to help people displaced by the declining economy and current unemployment. Food banks, for example, are an excellent way to help provide for families who lost their income recently. Donating school supplies and old gadgets also allow children to continue their schooling amidst financial struggles. History does repeat itself, but human responsibility should grow with each issue humanity confronts. It is crucial that humans learn from each mistake, and strive to better the situation of those around them. History may not need to repeat its downfalls.
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