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Wealth inequality Archives - Occasional Planet https://occasionalplanet.org/tag/wealth-inequality/ Progressive Voices Speaking Out Mon, 21 Dec 2020 16:12:28 +0000 en-US hourly 1 211547205 COVID-19 vaccines in a rich-country, poor-country world https://occasionalplanet.org/2020/12/18/covid-19-vaccines-in-a-rich-country-poor-country-world/ https://occasionalplanet.org/2020/12/18/covid-19-vaccines-in-a-rich-country-poor-country-world/#comments Fri, 18 Dec 2020 15:57:58 +0000 http://occasionalplanet.org/?p=41405 That we live in an unequal world is nothing new. Now, though, that reality may have unpredictable consequences for all of us. We are

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That we live in an unequal world is nothing new. Now, though, that reality may have unpredictable consequences for all of us. We are living through a pandemic and desperately waiting for vaccines to help us put an end to this endurance marathon we find ourselves running.

As the Pfizer/BioNTech COVID-19 vaccine becomes the first to be approved in the U.S., Canada, the U.K., Saudi Arabia, Mexico and Bahrain, anxiety is spreading in other parts of the world. The world’s capacity for vaccine production is limited, and the buying power of low and middle-income countries cannot match that of wealthier nations. Even though a rallying cry during the pandemic has been that No one is safe until everyone is safe, people in less well-off countries may have to wait until the middle of the decade to be vaccinated. In that scenario, the threat of Covid might not wane for several years despite the approval of vaccines.

As Gavi, the Vaccine Alliance, reminds us:

Only once COVID-19 vaccines are available to priority populations in all countries           around the world will we bring the pandemic under control.

Amnesty International reports that Rich countries have bought up enough doses to vaccinate their entire populations nearly 3 times over. Deutsche Welle (DW,) Germany’s international broadcaster, points out that the claim is somewhat misleading:

The claim assumes that all vaccines will pass clinical trials and be approved. Although more affluent countries have signed agreements with leading vaccination companies, the global scramble to secure doses occurred well before their safety and efficacy were established. While doses have been reserved, this does not necessarily mean that all companies will produce an effective vaccine that is then approved. In short, doses have been reserved for vaccines that are still being tested.

Status of leading vaccine candidates

Johnson & Johnson’s vaccine, which is much desired as it is given in a one-shot dose, is, as of yet, unapproved anywhere. But the U.S. has pre-ordered 200 million doses of the Johnson & Johnson vaccine, Canada has a bid in for 38 million doses, and the U. K. has ordered 30 million doses.

And the US has preordered 100 million doses of Moderna’s vaccine, Canada 56 million doses and the UK 50 million. The Moderna vaccine has the advantage of being 94 percent effective and can be distributed more easily than the Pfizer/BioNTech vaccine, as it remains stable at minus 20 Celsius for up to six months. The vaccine maintains potency in a standard refrigerator for up to a month. And yet, no Latin American country has preordered the Moderna vaccine, even though Brazil, Argentina, Colombia, Peru and Mexico are among the countries most impacted by Covid. Why not? The simple answer is cost. The Moderna vaccine is the most expensive in the marketplace and out of the reach of many.

The European Union had ordered 300 million doses of the Pfizer/BioNTech vaccine, as of Nov. 11. Japan wants 120 million doses, and the U.S. has bought 100 million doses. AstraZeneca/Oxford offered to deliver their vaccine at a no-profit price, which offered hope to developing countries, but their vaccine has run into problems. Released Phase 3 data confused more than assured many, and their trials are being repeated. Countries that had preordered only the AstraZeneca/Oxford vaccine were left scrambling.

Russia’s Sputnik V Vaccine

The Russian Sputnik V is a possibility. Sputnik V, also known as the Gamaleya vaccine, has been given short shrift in higher-income countries. Even though Russia has done pioneering work on vaccines in the past, when Russia fast-forwarded approval of its Sputnik V vaccine before Phase 3 trials were complete, many raised an eyebrow. Even so, early data on the Sputnik V vaccine suggest that it is 92% effective according to the BBC. Russia began offering broad Sputnik V immunizations to its citizens this past week. There were few takers. Distrust of the government is so widespread that 59 percent of Russians say they have no intention of getting a shot, the New York Times reports. Yet, this disparaged vaccine might just be the salvation of millions. Right now, we just don’t know. Just in case, Brazil has ordered 50 million doses, Mexico 32 million, Argentina 25 million and Venezuela 10 million.

Chinese Vaccines

A number of Chinese vaccines are also candidates. The efficacy of the Chinese Sinovac vaccine will not be known until January. Nevertheless, the Sinovac vaccine and Sinopharm, another Chinese vaccine, have been administered under emergency-use orders in China since as early as last July. More than 1 million Chinese have been vaccinated with the Sinopharm vaccine. On December 9, the Sinopharm vaccine was registered in the United Arab Emirates after it was found to be 86% effective in Phase 3 trials there. Bahrain approved the use of the Sinopharm vaccine on Dec 10. Morocco has said that it will initially rely on the Sinopharm vaccine for its plan to vaccinate 80% of its adult population. The Philippines plans to vaccinate 9 million people with the Sinovac vaccine. Chile has ordered 60 million doses of the Sinovac vaccine, and Brazil another 46 million. Mexico has just signed an agreement to buy 35 million doses of another unapproved Chinese product, CanSino Biologics’ COVID-19 vaccine.

It is worth noting that, as of mid-November 2020, no country in sub-Saharan Africa had made any prepurchase agreements for any COVID-19 vaccines in development.

Leveling the Playing Field

COVAX AMC (Advance Market Commitment) is a vaccine purchasing fund led by Gavi, the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations (CEPI) and the WHO. COVAX was established to support vaccine development and to try to level the playing field of vaccine accessibility worldwide. So far, COVAX has secured 700 million doses of vaccine to distribute among its 92 low-income country members. The EU, the UK and Canada have been key financial contributors to COVAX, as has the Bill & Melinda Gates Foundation. The United States had not participated.

The inequality inherent in the rich country poor country vaccine availability divide has pushed India and South Africa to petition the World Trade Organization to temporarily suspend certain intellectual property rights and medical patents in order to speed up COVID-19 vaccine production in less wealthy areas of the world, at least until herd immunity is achieved. And a group called the People’s Vaccine Alliance, a coalition of organizations including Free the Vaccine, the Yunus Centre, Frontline AIDS, Oxfam, SumOfUs and UNAIDS, is spearheading the call for COVID-19 vaccines free from patents. This group is asking for the fair allocation of vaccines, the prevention of vaccine monopolies, and vaccines available to all, everywhere, free of charge.

The immunity question

In the meantime, in their paper published in the medical journal The Lancet (Nov. 2020), Roy M Anderson, Carolin Vegvari, James Truscott and Benjamin S Collyer remind us of the unwelcome reality of the conundrum we find ourselves in:

Data on immunity to other coronaviruses suggest that immunity to SARS-CoV-2 might be short lived, perhaps 12–18 months in duration. Whether past infection will prevent severe COVID-19 on re-exposure to SARS-CoV-2 is not known at present.

In other words, even after herd immunity is achieved, vaccination against COVID-19 might need to become an annual jab.

 

 

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Survey: Does our economic system favor the rich? https://occasionalplanet.org/2016/02/03/our-economic-system-favors-the-rich-see-what-republicans-say/ https://occasionalplanet.org/2016/02/03/our-economic-system-favors-the-rich-see-what-republicans-say/#comments Wed, 03 Feb 2016 13:00:50 +0000 http://www.occasionalplanet.org/?p=33452 Conventional wisdom holds that Republicans are the party of the wealthy. But as Donald Trump’s campaign has clearly revealed, there are plenty of Republicans

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Why-rich-aConventional wisdom holds that Republicans are the party of the wealthy. But as Donald Trump’s campaign has clearly revealed, there are plenty of Republicans out there who are not particularly wealthy.

In a recent Occasional Planet poll*, we asked, “In your opinion, what do you think is the primary reason that some people in America are richer than others?” The answer choices were:

  1. The rich deserve to be richer
  2. The rich are smarter
  3. The rich work harder
  4. Our economic system favors the rich
  5. The luck of the draw

As you can see from the chart of all respondents, hardly anyone said that the “the rich deserve to be richer,” and only a few more said “the rich are smarter.” Most said, “Our economic system favors the rich.”

ALL-Some richerConventional wisdom would say that more Democrats than Republicans believe that the economic system favors the rich  The survey appears to validate that notion.

By-Party-Some richer

You can see that 80% of Democrats polled believe that our economic system favors the rich, compared to only 27% of Republicans. Independents fall in the middle at 58%.

Conventional wisdom would further say that lower income people would be more likely to say that our system favors the rich. Again, the survey seems to support that idea, but not as dramatically.

By-Income-Some richer

The blue bar represents respondents from households earning less than $50,000 per year. The gray bar shows those from households with incomes of over $150,000. Seventy percent of the lower-income group believe that our economic system favors the wealthy. Only 46% of those with household incomes over $150,000 believe that.

There might be an anomaly here, with 46% of the wealthy believing the supposition, and with only 27% of Republicans accepting that perspective. Is this a relatively small fissure between Republicans in general and the wealthy, or is it a great divide?

We drilled down further and here’s what we found.

By-Party-and Income-Some richer-simple-aFigure 4 represents the views of Republicans, Democrats and Independents, separated by household income level.

Inside the blue bars in the middle, we can see there is virtually no difference among Democrats of different income levels in accepting the premise that “our economic system favors the rich.

Inside the red bars on the left, we see a monumental difference between wealthy and low-income Republicans. Only 6% of wealthy Republicans accept the premise that “our economic system favors the rich.” But for those Republicans who are members of low income households, fully 52% believe that “our economic system favors the rich.” This is nearly a nine-fold difference.

What does all of this mean?

  1. On the question of whether our economic system favors the wealthy, there seems to be unanimity among Democrats, regardless of their household incomes.
  2. On the same question, there is a deep division among Republicans from high-income and low-income families.
  • Do these results mean that there are two large groups of Republicans:  one consisting of the wealthy who want to protect most private wealth in the United States; and a second group of lower-income Republicans who live somewhat of a hard-scrabble life and, perhaps, are among Donald Trump’s “angry supporters?”
  • While this contention seems to make sense, it will require far more study. A larger sample size might yield more reliable results.

We will conduct at least one further study examining these questions,  and on the ultimate question we are asking:   “Why are the Democratic and Republican brains so different from one another,” and what can we do to try to have a more fair and just America and world.

*Occasional Planet interviewed 550 Americans on January 14-15, 2016, using the services of the online-site Survey Monkey. The sample size is reliable +/- 4.5%, 95% of the time. It is demographically balanced by gender, ethnicity, age, income and geographic region.

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Wealth inequality in America is much worse than you think https://occasionalplanet.org/2013/03/15/wealth-inequality-in-america-is-much-worse-than-you-think/ https://occasionalplanet.org/2013/03/15/wealth-inequality-in-america-is-much-worse-than-you-think/#respond Fri, 15 Mar 2013 06:43:49 +0000 http://www.occasionalplanet.org/?p=23118 We love good infographics here at Occasional Planet because they help us see patterns that escaped our awareness, and understand and digest information. Here’s

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We love good infographics here at Occasional Planet because they help us see patterns that escaped our awareness, and understand and digest information. Here’s an important and timely video/infographic that shows the staggering extent of wealth inequality in the United States. Timely because president Obama and his fellow corporate Democrats, along with austerity-obsessed Republicans, are using the “Sequester” to force a “Grand Bargain” that will further increase wealth and income inequality in America. Who is the Sequester designed to force? Progressive Democrats who are against cutting Social Security, Medicaid and Medicare, and, for once, may have a spine. Call them and give them your support.

The video/infographic uses statistics from Mother Jones, Think Progress and CNN Money to form a graphic presentation of the current wealth distribution in America. Here are some of the facts revealed:

• 1% of America owns 40% of all the nations wealth

• The Bottom 80% owns only 7% of the wealth

• The richest 1% earns 24% of the national income.

• The top 1% owns 50% of the country’s stocks, bonds and mutual funds.

• The bottom 50% own .5% (half  a percent) of investments.

The video reports on a Harvard study that asked 5,000 Americans to estimate current income distribution in the United States. The outcome: 92% wildly underestimated the extent of wealth inequality. How can that be? In a nutshell, information about wealth inequality is not covered in the news media and hidden in most political discourse. Corporate owned media and corporate owned politicians benefit financially by keeping us in the dark about the extent of wealth transfer upward. Wealth inequality didn’t happen on its own. Corporate owned politicians in both parties, at the national, state and local level, have written thousands of laws that facilitate wealth inequality. Corporate owned media gives us a partisan Punch and Judy show that distracts us from understanding the extent of this wealth transfer. Politicians are motivated to keep the wealthy and their thousands of lobbyists happy—as payback for campaign contributions, or in hopes of lucrative employment when they leave office,

What would happen if the majority of Americans really understood the extent of wealth and income inequality and the roll of government in enabling it? For starters I can think of two things: A widespread national “waking up to reality” would throw the truth of federal, state and local government into high relief, making it shockingly clear that government doesn’t represent the majority of Americans. The current crop of politicians of both parties would lose their jobs. Second, it would expose the journalistic malpractice of a news media that fails to report on the growing and pernicious influence of corporations (and their billionaire owners) over government and economic life. What the video reveals: Right now, the economic reality in the country is much worse than most Americans think it is. The good news: It has over 4.5 million hits on Youtube.

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