Covid-19 cases worldwide have crossed the 31 million mark and fatalities linked to it are approaching a million. While the United States tops the morbidity count with over seven million cases, India, with nearly 5.5 million, now has the second highest number of recorded cases worldwide - and by most accounts, the disease is out of control across the vast nation. European nations from Denmark to Spain have announced new restrictions to curb surging numbers in their cities, and in Britain, Prime Minister Boris Johnson, who not long ago spoke of the "inalienable right of the British to go to the pub", has hinted at a second lockdown amid an "inevitable" second wave. Even Singapore has had more than 57,600 cases and 27 deaths.

The cost in terms of human life and livelihood is already colossal, with no end in sight. Jobs continue to be shed in countries at a frightening pace as many companies tighten their belts in the face of collapsing demand and dwindling state support. Against this background, some argue that only a form of herd immunity can be a bulwark against the disease. But scientists estimate that it might take two-thirds of the population to gain immunity before this is reached. Hence only the introduction of an effective and inexpensive vaccine is the real antidote, since with this people can develop immunity without contracting the coronavirus. If not, the cost to society and economies would simply continue to be catastrophic.