Remember the supply chain problems of 2020 and 2021? The story we were told was that COVID-19 pandemic disrupted the world’s ability to make and transport goods, leaving us with shortages of everything from surgical masks to infant formula (not to mention seven dollar eggs).
However, it turns out that the real story behind those shortages is more complicated, and has less to do with the pandemic than with transformations to our economy that have been taking place over decades.
On this episode (originally broadcast on the Rhodes Center Podcast), political economist Mark Blyth talks with Peter Goodman, a New York Times' global economic correspondent and author of the book, “How the World Ran Out of Everything: Inside the Global Supply Chain,” about why these shocks really occurred, and what they can tell us about the fragility of our global economy today. They also explore what these supply shortages looked like from inside individual companies, and why, unless we make some major changes to our economy, we’re at risk of running out of everything again.
