The other day, while waiting in line at a local fast-food drive-through, I struck up a conversation with the assistant manager, whom I’ve come to know over time. In our small town, it’s easy to connect with people on a personal level. He mentioned he was concerned about when he would be eligible for the COVID vaccine, being a frontline worker. When I asked if he planned to get vaccinated, he hesitated and said, “I’m not going to get it. I don’t think it’s safe. I’ll just take my chances.” This sentiment resonates with many people I know; skepticism about the vaccine is widespread.
During our chat, I recalled an intriguing idea proposed by economist Robert Litan: what if the government provided financial incentives for people to get vaccinated? I casually suggested this to him, and to my surprise, he reacted with, “Maybe.” It was evident that the mere idea of being paid to receive the vaccine shifted his perspective from a firm “no” to a tentative “maybe.” Litan argues that offering monetary compensation could be a key strategy to boost vaccination rates in the U.S.
How It Could Work
Here’s how it could work: Litan suggests that individuals receive $200 after their two vaccine doses. Once we achieve herd immunity, an additional $800 would be awarded, totaling $1000 for those vaccinated. This approach mirrors existing economic strategies that incentivize positive behaviors, such as discounts for gym memberships or financial rewards for quitting smoking.
The potential impact of the $800 payment could encourage discussions among peers, prompting those who are hesitant to consider getting vaccinated in order to secure that bonus. Education about the vaccine’s safety and efficacy could flourish in these conversations, helping to dispel myths and alleviate fears.
The Challenge Ahead
Despite the potential benefits, achieving widespread vaccination remains a challenge. Dr. Anthony Fauci has stated that around 70 to 85 percent of Americans need to be vaccinated to see a significant decline in COVID-19 cases. Unfortunately, about 30% of Americans either don’t intend to get vaccinated or are uncertain, citing reasons ranging from general vaccine hesitancy to concerns about the new vaccines.
To navigate this reality, we might need more than a public health campaign; we may require incentives or even mandates. While states have the legal authority to enforce vaccinations, as established by a Supreme Court ruling in 1905, the challenges of enforcing such mandates are evident. States have struggled to implement even simpler measures, like mask mandates, and the potential for backlash or conspiracy theories is significant.
Instead, offering a financial incentive could ease the transition. Let’s face it, an extra thousand bucks could be a compelling argument for many.
Considerations and Concerns
However, there are drawbacks to this approach. Cynthia Cryder, a marketing professor, warns that financial incentives might inadvertently signal that the vaccine is risky, potentially deterring some individuals from getting vaccinated. This is a valid concern that warrants careful consideration.
It’s natural to wonder about the cost of such a program. Litan estimates it could range from $250 billion to $300 billion, but he argues that this is a small price to pay compared to the economic damage if the pandemic continues. He sees it as an investment in unifying a divided nation that is struggling to trust science.
While ideally, people would get vaccinated out of a sense of responsibility for the greater good, this isn’t the reality we face. Unfortunately, that’s a topic for another discussion. Currently, there are no bills proposing such incentive programs, but given the ongoing struggles with vaccination rates, it’s an idea worth exploring.
Further Reading
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In summary, the idea of providing financial incentives for COVID-19 vaccinations could bridge the gap between skepticism and acceptance. While there are valid concerns regarding the implications of such an approach, the potential benefits may outweigh them, particularly as we strive to achieve herd immunity.
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