Preserving Latin American Regional Human Capital in the Midst of the Corona Crisis

Abstract

International organizations are increasingly expressing deep concern about the danger posed by the SARS-Cov‑2 coronavirus pandemic, which could lead to the loss of the human potential accumulated in every region of the world. As the United Nations warned, global human development, measured as a combination of education, health and living standards, could decline the achievements in human capital in 2020. Latin America and the Caribbean has become a hotspot of the coronavirus COVID‑19 pandemic, because of region’s weak social protection and fragmented health systems. The article analyzes the impact of pandemic on education and health which are the main dimensions of human capital as T. Shutlz and G. Becker proved. Following the principle of comparative analysis research, the author wants to review the specific features of corona crisis, such new and non-standard situation in different states of Latin-Caribbean America. To achieve this goal, the author used the main tools of scientific analysis: empirical data were collected and analyzed regarding the situation in education and health systems in Latin America, and an attempt was made to draw analogies with the processes taking place in other regions and countries. The conclusion is that the pandemic is more than a health emergency; it is a systemic humanitarian crisis. Most of Latin American countries might face a real generational catastrophe that wastes mainly their youth human capital. The general social shocks caused by the COVID‑19 pandemic could signify a great reversal in the region human development.