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Slate Money
Money Talks: We Could Run Out of Everything Again
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.
47:56
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Quick takeaways
- The pandemic exposed the fragility of the global supply chain model, which prioritized efficiency over resilience, leading to significant disruptions.
- America's toxic work culture, marked by overwork and undercompensation, calls for a reevaluation of labor practices inspired by other countries.
Deep dives
The Supply Chain Crisis and Its Human Impact
The supply chain crisis highlighted vulnerabilities that many overlooked, particularly the reliance on a global network of workers. Personal anecdotes illustrate the real-life implications of supply chain failures, such as difficulties in obtaining essential items during the pandemic. The journey of a shipping container from a factory in China to the U.S. revealed the myriad of individuals involved, including truck drivers and warehouse workers, whose efforts often go unrecognized. This crisis serves as a stark reminder that modern life depends heavily on a complex system that can be easily disrupted.
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