Living in a World of Ongoing Shortages
The toilet paper shortages of 2020 may be behind us, but that doesn’t mean that everything is hunky-dory. Shortages continue to plague not only our land but the world as a whole. Entire industries are struggling to overcome the scarcity of parts and materials, while consumers are forced to forget about finding a good deal, settling for just the things they need.
As Americans, we are so accustomed to living in a world full of plenty that we’re a bit taken back by seeing store shelves that are poorly stocked. Even though our stores are better stocked right now than much of the world is accustomed to seeing, for us, it’s a bit hard to accept.
Yet this situation isn’t likely to change anytime soon. These are the long-term economic effects of the pandemic, which some warned about, but most of those in authority ignored. That wasn’t just here in the United States either; much of the world ignored those warnings. Because the supply chain for most products snakes its way through several countries, shutting down factories in one country can have a long-lasting impact on the other side of the world.
We weren’t the only country experiencing lockdowns in 2020. Some countries instituted them to a much greater extent than we did, to the point where people were going hungry because the food stores were closed. Our lockdowns were initiated in a rather selective manner, giving big businesses the advantage by calling them “essential” and their employees “essential workers.” While that was done mainly to keep food on people’s tables, it destroyed millions of small businesses while making the retail giants even stronger.
Now that businesses are supposedly open around the world again, we’re finding out the true impact of those lockdowns. Not only did it bankrupt millions of small businesses, but it shut down small parts manufacturers, keeping them from making the parts needed by assembly plants that manufacture the products you and I use every day. Manufacturing jobs can’t be done from home. And at the same time that was happening, there was a surge in the purchase of electronics, partly fueled by people working from home.
As of this writing, there are shortages of the following items:
- Computer chips
- Cars, including used cars and rental cars
- Gasoline
- Raw plastics
- Truck drivers
- Houses, including vacation houses
- Lumber
- Typical household and personal hygiene products
- Furniture
- Chicken, bacon, hot dogs, corn
- Imp
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
