ABSTRACT
Using the Roman Catholic Church's set of moral principles on social concerns called Catholic social teaching (CST) and utilizing some secondary data and scientific research literature, this article examines the morality of India and South Africa's request to the World Trade Organization (WTO) to temporarily suspend the property rights and patents of top pharmaceutical companies to their vaccines to allow low-income countries to locally manufacture them to save the lives of the poor during this COVID-19 pandemic. Applying the theological method of "See-Judge-and-Act," this article argues that the suspension of patents for COVID vaccines is morally justifiable in the light of CST's principles on the universal destination of earth's goods, the common good, and preferential option for the poor. The top pharmaceutical companies cannot claim absolute ownership to their vaccines as they do not totally own and fund the entire development and production process. Furthermore, the right to private ownership and patents has a social dimension and must serve the common good and welfare of the poor, especially in times of global emergency such as the COVID-19 pandemic. Patent holders have a moral obligation to promote the common good and save the lives of the poor which must prevail over their capitalist quest for profit. This article recommends that Catholics and Christians must join this crusade for the suspension of patents as part of their spirituality of social transformation. Summary: Applying the Roman Catholic Church's set of moral principles on social concerns called CST and utilizing some secondary data and scientific research literature, this article examines the morality of India and South Africa's request to the World Trade Organization to temporarily suspend the property rights and patents of top pharmaceutical companies to their vaccines to allow low-income countries to locally manufacture them to save the lives of the poor during the current pandemic. Applying the theological method of "See-Judge-and-Act," this article argues that the suspension of patents for COVID vaccines is morally justifiable in the light of CST's principles on the universal destination of earth goods, the common good, and preferential option for the poor. It recommends that Catholics and Christians must join this crusade for the suspension of patents as part of their spirituality of social transformation. Short Summary: This article argues that patents of the top pharmaceutical companies to their COVID-19 vaccines must be suspended as requested by India and South Africa in the WTO in the light of CST's moral principles on the universal destination of earth's goods, the common good, and preferential option for the poor.
ABSTRACT
The Coronavirus (COVID-19) outbreak hit the global economy like a tsunami. Every aspect of human society, including the energy industry and market, is affected by this pandemic. The pandemic has affected prices, demand, supply, investment, and several other aspects of the energy sector, including the oil and gas industry. This article is aimed to analyze the impacts of COVID-19 on the oil and gas industry and give a perspective of the post-COVID-19 oil and gas market. Results of this article show that COVID-19 impacts the oil and gas industry. The short-term impact is nearly 25% decrease in petroleum consumption, slowly recovering to its former amount and even growing more. The long-term impacts are the 30% to 40% decrease in the CAPEX and R&D investments over the oil and gas market, which is a regional scale in the United States, caused oil exploitation projects to decrease from more than 800 in 2019 to 265 in 2021. And it is predicted to reduce the competitiveness of oil and gas vs other energy carriers such as ever price-decreasing renewable energies. Thus, the oil and gas industry has to change rapidly before losing a substantial energy market share. Finally, this article discusses acknowledging oil and gas trade as a part of World trade organization (WTO/ECT) regulations. And considering it a general energy commodity. An act that reduces the freedom of action of oil-exporting governments and great oil cartels and protects their interests in a globalizing competitive energy market.
ABSTRACT
This paper postulates that the effect of e-commerce on firm performance is not direct and needs to be examined using mediating factors. The Ordinary Least-Squares (OLS) model was employed with the data of the Flash Eurobarometer 439 Survey entitled The Use of Online Marketplaces and Search Engines by small and medium enterprises. The obtained findings provide support for the mediating hypothesis. To be more precise, while the relationship between e-commerce and firm performance is negative, it is positively mediated by certain types of internet sales channels. In particular, the benefits of e-commerce in terms of higher sales are more pronounced when firms use commercial websites and online marketplaces. On the other hand, the interaction between e-commerce and search engines has an insignificant effect on firm performance. This study advances research on e-commerce by emphasizing the importance of mediating effect.