Supply chain problems are the modern economy. The fact the world only noticed them in 2020 doesn't make it a crisis now. We've had a pandemic in which the world has by and large continued to enjoy the goods it did beforehand. An incredible achievement. nytimes.com/2022/02/01/bus…
The question to ask is whether a different system of production and distribution would have delivered better results in response to a pandemic. Never say never, but there's no history of an alternative delivering in a better way.
The aftermath of a major shock, whether war or a pandemic, is a problematic time, as readjustment is needed. That's normal, it doesn't need some great panic around it. Not least from populist politicians liable to make things worse in their limited understanding.
Sure we can improve the way domestic and international economies work. But hopefully on the basis of understanding what they are to start with, if that isn't too radical. Here's a starting cheat sheet... one I prepared earlier. ecipe.org/publications/g…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
