Global Vaccine Campaign shaken by the effects of capitalism

Coronavirus epidemic has killed more than 2.4 million people worldwide so far. Besides, the world economy has collapsed. In the midst of the horrific outbreak of the coronavirus, the vaccine was giving people hope of surviving this scourge. It was thought that the vaccine would be a way to get rid of the physical, mental and economic suffering that coronavirus had brought to humans.

But when the vaccine is almost on people's doorsteps, the light that people were seeing in some pre-conceived and some newly emerged situations has faded a lot. The front-line medical journal The Lancet reported that "if the vaccine is not available to humans in a timely manner, the results will not be promising."

Within a few months of being allowed to use several vaccines, the vaccine business suddenly came to a standstill. In addition, given the current situation, only a handful of capitalist countries are expected to be able to achieve hard immunity by the end of this summer, which is totally inadequate in the overall context. Mutations in the virus are already calling into question the effectiveness of existing vaccines.

Some blame the current vaccine situation on the inflexible bureaucracy and anti-vaccine sentiment of various governments. Meanwhile, three ideological myths continue to affect this almost disabled economy. Which are:

 The private sector is most qualified for innovation.

 Only an unregulated market is able to balance supply and demand.

 This globalization of capitalism is equally beneficial for all.

The myths mentioned in the vaccination program in this epidemic are damaging before our eyes.

Myth 1: The private sector is the most eligible for innovation

One of the key myths of global capitalism is that the private sector is the only effective source of innovation and development. But looking at the giant pharmacies, it is clear that this is a blatant lie.

For decades, industrial companies have downplayed vaccines for insufficient profits. For example, during the Ebola virus outbreak in South Africa, no attempt was made to bring a vaccine until the 2014 epidemic. Even before the coronavirus epidemic, organizations like Bioentech have done more work on the use of mRNA technology in medicine than on virus research.

In fact, the rapid support for the Covid-19 vaccine has been fueled by financial support from governments and taxpayer agreements. The U.S. government alone has provided বিল 2.5 billion to develop the modern vaccine and buy its doses. Virtually all pharmaceutical companies want to ensure low-cost production and risk-free marketing for new products.

In addition, at least two state-owned companies, Russia's Gamelia Institute and China's Sinoform, have successfully developed effective vaccines. Which is why privately owned companies are the most eligible for innovation, this claim is rejected.

This is not to question the effectiveness of existing vaccines or the work of researchers. Rather, privatizing vaccine activities is not only costly and exploitative, but also inefficient. Because in this case, scientists will not be able to share their research with private companies.

Myth 2: An unregulated market is more effective in balancing supply and demand

Another capitalist myth is that competitive and unregulated markets are more effective at balancing demand and supply and at the same time satisfactory distribution of products is possible. We saw the dark side of this myth in early 2020, when states competed with each other to procure medical equipment such as PPE and ventilators. The victims were low and middle income countries.

There was demand all over the world but supply was only in the hands of the capitalist countries. The same thing is going to happen again. In the absence of regulation in the supply of vaccines, capitalist countries are trying to ensure the required doses for their citizens.

Because Israel pays a high price, the rate of vaccine delivery is very high there. The United States is following the same path. Even in the European Union, the balanced distribution of vaccines is uncontrolled. Germany has also been able to ensure more vaccine doses for itself.

Myth 3: Capitalist globalization is equally beneficial for all

The third myth of capitalism is that globalization is equally beneficial to all. But just looking at the vaccine distribution activities shows how true it is.

While Western countries are already ensuring vaccines for the people, it has not yet been possible to launch vaccine campaigns in other parts of the world. Even in many developing countries, where vaccines are being used as testing grounds, activities are being disrupted due to limited supplies.

Because of the unequal policy of global vaccine distribution, we are not only going through the "catastrophic moral failure" of Hu's director general Tedros Adanum Gabrias, but also the inevitable global economic downturn. Economists have already warned that if a balanced distribution of vaccines is not possible, it will be more expensive for capitalist countries.

If this inequality exists, the vaccine activities of capitalist countries will prove futile. Even if some countries gain hard immunity, the epidemic will disrupt travel and the global supply chain.

Crisis capitalism gives birth to new calamities

Canadian author Naomi Klein portrays upheaval capitalism as a brand. This predatory capitalism profits from natural or man-made disasters. The current epidemic has created an opportunity for us to get closer to this issue.

Globally dependent is an economy that relies on workers and quite complex supply chain management. In such a situation, if a large part of the world's population is out of vaccine activities, there is ample opportunity for virus mutations. As a result, the epidemic may start anew. While vaccine development is ongoing, undue delays and unequal delivery of vaccines will always keep Covid-19 one step ahead.

This situation is not a total relief for the future of billions of ordinary people. Whose lives are already ruined by the virus. However, this system is proving to be quite convenient for the capitalist countries.

According to relevant experts, if we want to stop this epidemic, save human lives and at the same time avoid economic catastrophe, we must quickly resist the tactics of this harmful capitalism and at the same time ensure a balanced distribution of vaccines.

*Author, Professor of Philosophy, Sophia University. The article published on StateWatch.