Slate Money Money Talks: We Could Run Out of Everything Again
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Oct 15, 2024 
Peter S. Goodman, a global economics correspondent for the New York Times and author of "How the World Ran Out of Everything," delves into supply chain fragility. He reveals how the pandemic exposed vulnerabilities in the 'just-in-time' logistics model, risking future shortages. Goodman discusses the monopolistic practices of major retailers and the impact of deregulation on shipping, which favors large corporations over small exporters. He warns that without systemic change, another breakdown could leave store shelves empty again.
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Goodman's Pandemic Experience
- Peter Goodman's family experienced the supply chain crisis firsthand during the pandemic.
- They struggled to order essential supplies for their newborn, highlighting the fragility of the system.
Just-in-Time Vulnerability
- "Just-in-time" manufacturing, initially meant to eliminate waste, became a vulnerability.
- Companies prioritized short-term profits over maintaining inventory, leaving them unprepared for disruptions.
Bodner's Generator Story
- Jerome Bodner, a generator factory worker, witnessed McKinsey consultants prioritize cost-cutting over practicalities.
- This led to increased expenses for air freighting parts and prioritizing short-term financial metrics over customer needs.