D H
Apr 8 ยท Last update 7 days ago.

How can we stop or correct for pandemic profiteering?

While the COVID-19 pandemic has had a devastating human cost, some companies have benefitted massively from the global public health crisis. Companies like Amazon have enjoying record profits, while numerous cases of price gouging on their platform have illustrated the huge potential for some to cynically turn the pandemic into a cash cow. During the pandemic an abundance of cases of price hiking, cronyism scandals, and even straight corruption have accompanied record earnings for some companies, and in some cases what can only be called unearned or extortionate profits. But even the success stories of the pandemic have given us the most striking examples of this; many of the CEOs of big pharmaceutical companies that have developed vaccines have become billionaires during the pandemic, and are now planning a vaccine price hike, according to The Intercept. How can pandemic profiteering be stopped? Or, how can policy reshape the economy to help correct for the pandemic profiteering that has taken place? Do we have a moral duty to redistribute some of the unjustified wealth accumulation linked to the pandemic? What can we do about pandemic profiteering? commondreams.org/news/2021/03/19/big-pharma-quietly-planning-price-hike-covid-vaccines-near-future-report
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Unionise and empower/protect workers
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Unionise and empower/protect workers

Many companies have profited in spite of or sometimes because of essential workers are put in dangerous situations to the benefit of companies unwilling to finance constant testing or expensive mitigation methods. From Amazon to supermarkets, workers have continues sometimes despite being essential workers in dangerous indoor "super-spreader" environments. But possibly the most exploitative example is Uber Eats, they have hired more workers due to the extra business during the pandemic, but have slashed rates to increase profits while workers work for less and less, causing delivery riders to form a union and strike. An empowered and connected labour force is the only power that can stand up to government and big companies to actually effect change, under capitalism, employers will always try to profit from a crisis, and those in power can be lobbied or purchased. The answer to this is to strengthen unions and redefine essential workers to protect those at risk and empower labour, this could help stop the human exploitation and could help reduce the amount of profiteering by forcing the attention on the public good and public health.

jacobinmag.com/2020/03/coronavirus-pandemic-profiteering-corporations-health-care inequality.org/research/pandemic-profiteering-private-equity businessinsider.co.za/uber-eats-strike-and-pickets-at-fast-food-outlets-2021-1 theworldnews.net/za-news/uber-eats-drivers-to-go-on-strike-over-cut-delivery-fees

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D H
Apr 8
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