Notes: shortages, skills, startups, short-termism
Turns out there's shortages of random items in the US as well as the UK. Matt Stoller writes about why, identifying 5 factors - monopolies manipulating price and supply, a lack of interoperability so products can't be substituted, machinery which can only be repaired by one company, infrastructure monopolies that are vulnerable to shocks through location or optimisation for efficiency at the cost of resilience, and power buyers cutting out other purchasers. There are shortages in everything from ocean shipping containers to chlorine tablets to railroad capacity to black pipe (the piping that houses wires inside buildings) to spicy chicken breasts to specialized plastic bags necessary for making vaccines. Moreover, prices for all sorts of items, from housing to food, are changing in weird ways. Beef, for instance, is at near record highs for consumers, but cattle ranchers are getting paid much less than they used to for their cows. ... The lack of resilient supply chains...