Coronavirus Pandemic Inspires Private Generosity

While many of us turn to the government for answers to the COVID-19 pandemic, others rightfully seek solutions from the private sector. Last week, the Hoover Institution's Russ Roberts asked his many twitter followers to help "create a list of voluntary (non-coercive) actions taking place right now to reduce COVID-19 spread or impact." The answers are too inspiring not to share.

First, many of Roberts' followers shared a list the benefits offered by their employers that help to alleviate workers' financial hardships or ensure their health is protected. For instance, Walmart, Target, Gap, and many other firms announced that they will provide up to two weeks of paid leave to every worker who is sick or taking care of sick family members.

Even companies that rely on self-employed contractors are stepping during this crisis. Uber, for example, emailed its customers to inform them that "Any driver or delivery person who is diagnosed with COVID-19 or is individually asked to self-isolate by a public health authority will receive financial assistance for up to 14 days while their account is on hold," adding, "We've already helped drivers in some affected areas, and we're working to quickly implement this worldwide."

Second, the fast-rising prices of some items like hand sanitizers frustrate many. But these price hikes are also a vital signal to manufacturers that these products are in especially high demand—high enough that it's worth it for companies that usually don't make these goods to shift their resources toward producing them. In China, facemasks are now produced by auto, electronic, and energy companies. A group of citizens in Hong Kong set up a surgical-mask factory to increase supplies, which tempers price hikes.

But Roberts' followers also highlight examples of companies innovating to fill other shortage gaps. For example, Shine Distillery and Grill in Portland, Oregon, is now turning its alcohol waste into hand sanitizer, which the owner then gives away. The Durham Distillery in North Carolina is also donating its homemade sanitizer to local hospitality businesses.

Big guys like LVMH are helping, too. The world's biggest luxury company announced that it would temporarily make hand sanitizer instead of perfumes and then freely deliver the gel across France to address critical shortages.