"We've known this since Adam Smith, but this is a strong reminder: competition works in the public interest." This is the reaction of Johan Van Overtveldt, former Minister of Finance and now MEP for the N-VA (rightist Flemish nationalist party), to the announcement of the coronavirus vaccines from Pfizer-BioNTech and Moderna. By referring to the economist known as "the father of capitalism", he clearly means that we owe the development of vaccines against Covid-19 to the capitalist free market and the benevolence of the pharmaceutical multinationals. There are at least five reasons why he's completely off the mark.