Editorial: Time for five tech giants to shell out the money

The International Labour Organisation warned yesterday that the new virus may eliminate 25 million jobs globally if there is no immediate response.

The hour for a great redistribution of wealth has arrived.

The five American technological tech giants – Amazon, Google, Microsoft, Facebook, and Apple should dig deep into their pockets and exhibit palpable solidarity with their global audience.

This is a moral duty because it is that global audience that embraced them, nurtured them, and led to their aggrandisement.

A world of open borders and the free dissemination of ideas and movement of goods formed the framework in which that had every opportunity to create and to grow.

This world is now facing harsh trials.

The International Labour Organisation warned yesterday that the new virus may eliminate 25 million jobs globally if there is no immediate response.

Now is the time for these five corporate colossi to fulfil their duty to societies and economies that are being battered and to give back a portion of their earnings to all those who for years have sustained them.

Bill Gates has often underscored the need for big business to pay higher taxes in order to stem galloping economic inequality.

A simple, easy, and straightforward solution would be for these companies’ not to distribute net profits to shareholders but instead give them to countries around the world to help them manage the untold repercussions of the coronavirus pandemic on national economies and labour markets.

It is a unique opportunity for them to put a human face on corporate responsibility.

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