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    Daily Digest 12/2 – Moderna Plans to Begin Testing Its Coronavirus Vaccine in Children, The Economics of America’s Nurse Shortage

    by Daily Digest

    Wednesday, December 2, 2020, 5:29 PM

Economy

The drugmaker Moderna said on Wednesday that it would soon begin testing its coronavirus vaccine in children ages 12 through 17. The study, listed Wednesday on the website clinicaltrials.gov, is to include 3,000 children, with half receiving two shots of vaccine four weeks apart, and half getting placebo shots of salt water.

Florida Gov. DeSantis says Disney layoffs mainly hit California, though thousands of Orlando staff lost jobs

Florida Gov. Ron DeSantis said Monday that the bulk of Disney’s layoffs are in California despite the fact that Orlando reportedly already cut at least 18,000 jobs.

During a press conference Monday, DeSantis said of Disney’s 32,000 planned layoffs, most were in California because the state “will not let the theme parks operate.”

Columbia University students threaten to withhold ‘exorbitant’ tuition costs next semester citing ‘economic depression’

More than 1,400 Columbia University students are threatening to withhold their tuition payments next semester, claiming the “exorbitant” fees are exacerbating their financial hardships in the midst of the coronavirus-related economic downturn.

Collectively, they have signed a petition calling on school leaders to “alleviate the economic burden on students” by reducing the cost of attendance by 10% while also increasing financial aid by 10%.

Why Janet Yellen as Treasury Secretary is the perfect choice at the perfect time

President-elect Joe Biden announced Monday that he plans to nominate former Federal Reserve Chair Janet Yellen for Treasury Secretary. It would be hard to find any candidate for Secretary of the Treasury who commands as much respect on Wall Street as she does in academia but Yellen is exactly that person.

Yellen first made a name as an academic economist specializing in labor market issues and macroeconomics. She was a professor at Harvard and U.C. Berkeley during her time in academia and was then appointed to the Federal Reserve’s Board of Governors.  Eventually, she rose to become Vice Chair of the Fed and then Chair in 2014.

President-elect Joseph R. Biden Jr. has officially selected Brian Deese, who played a leading role in bailing out the automotive industry and negotiating the Paris climate agreement under President Barack Obama, to head the National Economic Council, his transition team said Thursday.

The appointment, which does not require Senate confirmation, highlights Mr. Biden’s plans to use economic policy initiatives to drive climate policy. It also defies pre-emptive criticism from some environmental groups, which have targeted Mr. Deese for his work in recent years as the sustainability director for the asset-management giant BlackRock.

The Economics of America’s Nurse Shortage

In many ways, the coronavirus pandemic has been characterized by shortages.

Early on in the pandemic, there were shortages of face masks, medical equipment, and even toilet paper. But as the coronavirus has continued to spread, many of the economic forces that led to those shortages have been resolved.

But as we enter the winter months, another shortage has emerged: nurses.

Environment

The Nation Learning To Embrace Flooding

As climate change is set to make flooding worse in Bangladesh, researchers are racing to find adaptations that balance their restorative and destructive powers.

When this year’s monsoon season hit Bangladesh, it wasn’t an ordinary flood. Within weeks, one quarter of the country was underwater. “We’ve been managing flood relief efforts in the region for 10 years,” says Ahmed Imtiaz Jami, president of Obhizatrik Foundation, a charity and volunteering organisation in Bangladesh. But the 2020 floods were a step-change. “It just wasn’t the same.” Nearly 1.3 million homes were damaged, hundreds of thousands of people were marooned, and hundreds died.

Gold & Silver

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