galbraith14_Allen J. Schaben  Los Angeles Times via Getty Images_LAport Allen J. Schaben/Los Angeles Times via Getty Images

The Choking of the Global Minotaur

The supply disruptions plaguing the US economy are not the result of "excessive demand," "central planning," or a lack of efficiency. Rather, it is that a logistics ecosystem that was developed to feed the beast of American consumption was not designed for a pandemic.

AUSTIN – A supply chain is like a Rorschach Test: each economic analyst sees in it a pattern reflecting his or her own preconceptions. This may be inevitable, since everyone is a product of differing educations, backgrounds, and prejudices. But some observed patterns are more plausible than others.

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