Myopic self-interest restricts access to COVID-19 vaccines

COVID-19 vaccination presents a picture of inequality: about 51% of the world’s vaccines are in the hands of 14% of the global population. Between and within countries, the distribution of vaccines has reflected existing racial and socioeconomic hierarchies rather than allocations that would maximise collective social welfare. Many countries see this as a contest. As a result, ‘winners’ order many more vaccines than they need, leading to reduced supplies and higher prices for everyone else. Miqdad Asaria and Joan Costa-Font explain why this doesn’t make sense from a health security point of view and is likely to backfire economically.