The system could be made to work for everyone in society without compromising its benefits
We witnessed capitalism in all its colours during the pandemic. It was able to incentivize science to develop and produce vaccines for the entire world in record time. The same capitalism has disincentivized appropriate allocation and availability of vaccines to the world’s poorest and most vulnerable. This has led to both hope and despair. Market-based economies clearly have a lot of shortcomings, but we must not overlook their benefits. It’s time to reform capitalism from within.