COMPLEXITY cover image

COMPLEXITY

Ricardo Hausmann & J. Doyne Farmer on Evolving Technologies & Market Ecologies (EPE 03)

May 21, 2022
01:20:49

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Quick takeaways

  • Understanding and mapping supply chains can help manage and mitigate risks, as well as optimize economic performance.
  • Addressing inequality requires policies that focus on inclusion and connecting individuals to more complex production networks.

Deep dives

Importance of Supply Chains in Economic Growth

Supply chains and production networks play a crucial role in economic growth and productivity. Specialization and interdependence among different industries enable the efficient exchange of goods and services. Countries with diverse and complex supply chains have the potential for faster growth and greater resilience. However, disruptions in supply chains, as seen during the COVID-19 pandemic, can reveal vulnerabilities. Understanding and mapping supply chains can help manage and mitigate risks, as well as optimize economic performance.

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