Will quotas solve the unequitable distribution of coronavirus vaccines?
20 May 2021
The ‘pool’ of coronavirus vaccines is a common firstly as it’s the most un-rejectable, the most in demand global resource, providing countries, it’s thus individual users, an invaluable return to normalcy. It’s furthermore a finite and thus subtractable resource as breakthrough vaccines have only begun mass production, ensuring, as that there will only be enough for around one-third of the globe by the end of 2021
The market failure of Covid-19 vaccines is overwhelming, the current open market allowing ‘priority access’ developed nations to actualize their impulses to self-inoculate, subsequent leading them to gorge these common resources. This unequal, un-welfare maximizing distribution has thus created a ‘tragedy’, triggering the rise of international inequality and de-globalization.
Is the necessary intervention policy to intervene and redefine these vaccines as global institutional property, with the right to countries’ use allocated through Individual Transferrable Quotas [ITQs]? Would this combat selfishness or inhibit global progressive of innovation, if now un-excludable?