rss feedA $10 billion gift from the Gates Foundation
So what should all of us say when the foundation run by one of the world’s wealthiest people decides to give $10 billion over the next decade to develop vaccines for people worldwide?
How about, “That’s pretty thoughtful.”
Bill and Melinda Gates, co-chairs of the foundation that bears their name, made their announcement on Friday at the World Economic Forum in Switzerland.
I’ve grown accustom to some people – not all – bellyaching or griping about whatever they have: “It’s not enough. Is this all you have? You should do it this way.”
In the hubbub of huffing and puffing, I think we overlook appreciating what we do have.
Certainly, everything can be improved – and I have leveled critiques of my own. But being grateful is, as they say, a good thing.
Of course, we can politely complain that the vaccines will go to developing countries or that the money might not trickle down to enough people in the United States.
Remember, though, that one of the missions of the Gates Foundation is to focus on global health issues.
Key players in the global health and development world certainly recognize what a $10 billion investment can do for projects that might never see fruition – or endure longer development times - without this backing.
And yes, this post does not take into account whether you like Microsoft or Bill Gates or the Bill & Melinda Gates Foundation.
Let’s think about $10 billion this way: What else can it buy?
Late last year, United Airlines announced it was going to buy 50 jets worth $10 billion at list price.
In late May, Facebook was valued at $10 billion.
Based on a figure released early last year, that $10 billion could have cut California’s massive budget deficit of $42 billion by about 25 percent.
Last year, online spending in China – including games, shopping and advertising – was an estimated $11 billion.
Iceland’s gross domestic product last year was an estimated $12.2 billion in terms of purchasing power parity.
At a time when public libraries are limiting hours, Democrats and Republicans are debating the best way to help small businesses add people to the payroll and college costs – especially at the University of California – are increasing, this largess from the Gates Foundation should be acknowledged by senior policy leaders as well as ordinary people.
In the short and long run, this investment should be able to support research jobs in medicine and public health and help millions of people in developing countries live better, longer lives.
When you think about it, in the grand scheme of things, that is pretty noble – especially given that the United States is leaving one of the worst economic recessions in at least the last 50 years.
