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May 12, 2021

benefits to richer nations providing vaccines to rest of the world exceed costs – economists

By Paul Dennis

12 May

Nuno Palma, a senior lecturer (associate professor) in economics at the University of Manchester, retweeted a survey of economists that concluded that the benefits to richer nations such as Canada, Europe, Japan, US, and others paying for the 12 billion doses of Covid-19 vaccines at the existing prices while providing them for free to the rest of the world exceeded costs incurred.

A majority 53% of the experts in the poll agreed that reliable Covid-19 vaccines would reach developing countries faster, if the rich countries paid the pharmaceutical companies at prevailing prices to manufacture and distribute the vaccines, rather than waiving patent protection.

Another 37% of the experts strongly agreed that the benefits to richer countries who paid for the Covid-19 vaccines at the prevailing prices and offered them for free to the rest of the world would exceed the costs incurred by them.

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