The Supply Chain Mess

Source: The American Prospect
by Robert Kuttner

“The bout of recent inflation has been mistakenly blamed by some economists on President Biden’s program of economic stimulus. The reality is that Americans need this economic recovery, and most of the price hikes are the consequence of bottlenecks in the global supply chain. The supply crunch in turn reflects the interaction of just-in-time production and extreme offshoring with a privatized and deregulated logistics system. More on that in a moment. Biden’s defenders have aptly pointed out that if we want to repair the supply chain mess and reshore American production, we need to maximize outlays on infrastructure and under Build Back Better. That’s surely true. But there is concern that these overdue investments will take years to bear fruit.” [editor’s note: Once again, this “progressive” pundit identifies the problem, and then recommends more of its cause as a “solution” – SAT] (11/23/21)