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.