4 ms·
It's also the sort of thing where if you're the first one using it, the costs of it are not nearly as large as when the whole economy is using it. Your buffer
by rossdavidh 5y ago
It's also the sort of thing where if you're the first one using it, the costs of it are not nearly as large as when the whole economy is using it. Your buffer is, in effect, being stored at other people's factories. This is logically predictable, but was not in fact widely appreciated before the current problems, perhaps because this is the first shock to come after JIT was almost universally used.
- roughly 5y agoYeah, I think this is in part an outcropping of the Friedman/Chicago School notion of firms as purely self-interested - the notion that one can ignore the actions of the other actors in the space when planning one's own strategy is sort of silly on the face of it.