Vaccine Patents = Mass Murder
As a new wave of Covid-19 rips through many countries, notably India, Argentina and Brazil, it is disconcerting to look on from the vantage point of a country where things are — for now — well under control, with over half the population at least partly vaccinated.
With scientific opinion — and plain common sense — united in the certainty that Britain and the few other rich countries which have had a successful vaccination program still cannot protect themselves so long as some of the most populous countries on earth are effectively giant Petri dishes for the emergence of new variants of the virus, scrutiny must rightly fall on Britain’s failure to aid the global effort adequately. And, while much of the discussion focuses on how many spare vaccine shots are ‘donated,’ there is a far more serious moral failure on display in the present situation.Read More »
Ahead of crucial WTO meet, rights groups urge patent waiver on COVID-19 vaccines
(Photo: NICEF/Jake Verzosa)
Several human rights groups, including Doctors Without Border (Médecins Sans Frontières or MSF), made an urgent appeal to the members of the World Trade Organization (WTO) on the eve of its scheduled virtual meeting on Thursday, April 22, to waive off the patent rights on COVID-19 vaccine production.
More than 100 countries, led by India and South Africa, have demanded the temporary waiver of some clauses of the Trade Related Intellectual Property Rights (TRIPS) on the production of vaccines and other related medical equipment in order to increase their production and facilitate their wider and more equitable reach.Read More »
Number of World Billionaires Increases to 2,755
Forbes released its data surrounding billionaires in 2021 whose wealth exploded amidst the pandemic. The number of billionaires increased by 660 over the past year to 2,755. The U.S. has the most billionaires at 770 followed by China at 698 (including Hong Kong and Macao). Read More »
SUEZ CANAL TROUBLE
Insatiable Shipping Companies Set the Table for the Suez Canal Ship Debacle
A lot of ink has been spilled to explain exactly what happened in the Suez Canal, where a massive container ship got wedged across the narrow channel, idling ships or forcing lengthy detours around South Africa’s Cape of Good Hope.
Early speculation on social media laid blame on the captain and crew, mechanical failures, or mysterious forces of nature. Was it the fault of a drunken navigator, as was claimed in the 1989 grounding of the Exxon Valdez, which spilled oil across Prince William Sound? Was there a failure of the steering gear that controls the ship’s rudder, or a did a loss of propulsion make it impossible to control the steel behemoth?Read More »
A Journal of People report
Fifty-five of the biggest U.S. companies paid $0 in federal taxes or no tax last year, found a new study from the Institute on Taxation and Economic Policy (ITEP).
Despite raking in billions, Nike, Duke Energy, FedEx, and other public companies have paid no federal corporate income tax in the U.S. since 2018, according to the study.
The 55 publicly traded companies would have paid an estimated $12 billion in federal taxes if not for corporate tax breaks in 2020, including $8.5 billion in tax avoidance and $3.5 billion in tax rebates, the report found using regulatory filings and other information.Read More »
CAPITALISTS IN USA
Ultra-Wealthy Evade 20% of Taxable Income
According to new research published in the National Bureau of Economic Research (NBER), the wealthiest Americans are more successful at evading taxes than was previously expected. The paper suggests that due to the use of sophisticated techniques, the sampled data of random audits do not capture the true amount of tax evasion. The authors estimate that the top 1% shelter 20% of their taxable income.
Audit data showed a very small amount of tax evasion for the wealthiest Americans which can be explained by the use of foreign intermediaries (ex. Foreign bank accounts) and pass-through business entities which serve to complicate detection efforts.Read More »
Explained: How Intellectual Property Rights are blocking vaccine production
Estimates suggest that the mass of the population in wealthier countries are likely to be vaccinated against COVID-19 by mid of 2022. However, in poorer economies, mass immunization will take until 2024, if it happens at all. These countries will pay the cost of this delay in the form of 2.5 million avoidable deaths.
What is standing in the way of expanding production and carrying out mass vaccination campaigns across the world?Read More »
Bernie asks Jeff Bezos: You are worth $182 billion … why are you doing everything in your power to stop your workers from unionizing?
A Journal of People report
At a hearing on March 17, 2021, Sen. Bernie Sanders spoke critically about Amazon CEO Jeff Bezos, who declined Sanders’ invitation to testify, and Elon Musk, the two wealthiest men.
“Bezos and Musk now own more wealth than the bottom 40%. Meanwhile, we’re looking at more hunger in America than at any time in decades,” Sanders said in his opening remarks at the Senate Budget Committee hearing, which was titled The Income and Wealth Inequality Crisis in America.
“If he was with us this morning, I would ask him the following question … Mr. Bezos, you are worth $182 billion – that’s a B,” Sanders said. “One hundred eighty-two billion dollars, you’re the wealthiest person in the world. Why are you doing everything in your power to stop your workers in Bessemer, Alabama, from joining a union?”Read More »
The financialization of environment protection
Riccardo De Cristano
“Business as usual is killing us” 
Recent years have seen the rise and expansion of new financial instruments aimed to create a positive impact on society. One peculiar instrument, green bonds, is facing enormous growth, and we can notice how it is becoming a popular type of investment. Through its mechanisms, even if a universal definition of what a green bond does not exist, investors can raise profits and provide positive outcomes for the environment.Read More »