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Tyler Cowen

There Is No Shortage of Reasons for the Broken Supply Chain

A combination of Covid and bad luck has contributed to a complex mess that has no parallel in recent economic history. 

The world needs a lot more of these.

The world needs a lot more of these.

Photographer: Spencer Platt/Getty Images North America

The bad news is that the world’s supply chain problems are more persistent and more severe than previously realized. The worse news is that there is no single reason why, and therefore no straightforward fix. And the even worse news is that no one really knows when the situation will improve.

As for the good news? It is at least becoming possible to piece together a story of how this all has come to pass.