ജോൺ വാഴത്തറ

Humanity matters, capitalism needs an upgrade.  The COVID-19 vaccine crisis is an opportune time when companies must rethink the purpose behind their existence 29/05/2021   Getty Images/iStockphotoPogonici/Getty Images/iStockphoto The COVID-19 vaccine crisis is another tragic instance of a clash between the needs of humanity and the principles of capitalism. Capitalists insist that private producers of vaccines must make profits because that is their compensation for investing in research and production. If the prices they charge are beyond the reach of poor people, they are not morally compelled to serve them at a loss. Then, governments must step in and buy from private producers and subsidise sales to poorer people. For which, governments need revenues of course, and taxes on private companies could be a significant source. However, if private companies also press governments for lower taxes, to make their investments more attractive; and if the government is also pushed by...