Opinion: Designing Vaccines for People, Not Profits

There is still a long way to go to deliver on the promise of a universal, freely available "people's vaccine", argue Professor Mariana Mazzucato, Henry Lishi Li and Els Torreele (All UCL Institute for Innovation & Public Purpose). Recent announcements of demonstrated efficacy in Covid-19 vaccine trials have brought hope that a return to normality is in sight. The preliminary data for Pfizer/BioNTech and Moderna's novel mRNA vaccines are highly encouraging, suggesting that their approval for emergency use is forthcoming. And more recent news of effectiveness (albeit at a slightly lower rate) in a vaccine from AstraZeneca and the University of Oxford has fueled optimism that even more breakthroughs are on their way. A large body of academic research has emerged to explain why wealth and income inequality are hitting new highs, and why productivity growth continues to decline. A powerful new synthesis by a leading macroeconomist shows that the two trends are deeply intertwined. In theory, the arrival of a safe and effective vaccine would represent the beginning of the end of the Covid-19 pandemic.