Supply Chains and the Shortage Economy

Source: Heartland Institute
by Daniel Sutter

“America is experiencing extended shortages of goods without recent precedent. The global transportation system is heavily congested, with dozens of ocean freighters waiting off California to dock. Is America’s economy beginning to emulate the former Soviet Union? … Despite the ‘broken’ characterizations, U.S. ports are projected to set all-time cargo handling records this year. Supply chains are struggling to meet increased demand, not failing to deliver what we normally buy. Our elected officials imagine that they can solve all our problems. Unsurprisingly President Biden appointed a ‘port czar’ in August and has said, ‘If the private sector doesn’t step up, we’re going to call them out and ask them to act.’ … government control over supply chains would help make shortages permanent.” (11/21/21)