2 ms·
Why is there an expectation that the consumer goods economy will be robust to a once-in-a-100-years global pandemic? It's a nice property to have for sure, and
by pradn 5y ago
Why is there an expectation that the consumer goods economy will be robust to a once-in-a-100-years global pandemic? It's a nice property to have for sure, and we should plan for it from a public health and governance point of view. But should we expect consumer good production to be robust to such a major event? Yes, some people are seeing sofas take months to come in, and books are taking longer to be produced (there's not enough supply for the books of the latest Nobel winner, for example), but these are not necessarily necessary goods. Food and other necessary ingredients of a normal life seem relatively okay. But I am in a little bubble, like everyone else.
When everyone is going through pain, people don't put too much blame in one person. If every country is losing people to the virus, people seem willing to not punish a government that loses a lot of people. If every company is suffering from supply-chain issues, wall street will not necessarily put special onus on a particular company, saving a company's leadership from embarrassment. That said, certain sectors do seem to be hit - Apple's recent miss vs Microsoft, for example.