> Catastrophic failure is pretty bad for efficiency. For the system, but not necessarily for any individual actors in that system. There is no inherent force

> Catastrophic failure is pretty bad for efficiency. For the system, but not necessarily for any individual actors in that system. There is no inherent force that automatically keeps those incentive aligned. Everybody knows that the supply chains are brittle. Covid, earthquakes, war, etc. all can disrupt them. Yet, do you see anybody holding inventory? Do you see any diversification occurring (very minimally--and mostly to shift from cheap Chinese labor to cheaper Vietnamese/Indonesian labor)? Do you see anybody buying personal protective equipment domestically in the US (nope, everybody went back to buying cheap Chinese crap)?