E86: Understanding the Global Supply Chain Collapse w/ Peter S. Goodman

Peter S. Goodman, global economics correspondent for The New York Times, discusses his book How the World Ran Out of Everything, exploring how the pandemic exposed the fragility, complexity, and monopolization of the global supply chain.Guest Bio: Peter S. Goodman is the global economic correspondent for The New York Times and author of How the World Ran Out of Everything and Davos Man: How the Billionaires Devoured the World. He has previously reported from China, London, and Washington, covering globalization, trade, and economic inequality.Topics Discussed (in order):Introduction to the global supply chain and pandemic-induced shortagesStory of Glow, a Mississippi startup navigating China-based manufacturingThe complexity of building simple products and iPhonesOverdependence on China and difficulties in diversificationThe resilience and brittleness of just-in-time manufacturingRole of government and Wall Street in shaping supply chainsSemiconductor shortages and the Arizona TSMC plantHistorical context: Henry Ford and vertical integrationCorporate financialization and buybacks vs. reinvestmentShift toward treating supply chains as national securityThe role of microchips in defense and economic powerTrade, offshoring, and consequences for U.S. laborMcKinsey and the consulting industry's influenceTrucking industry realities and labor conditionsLabor shortages and deteriorating job qualityCurrent disruptions: Houthi attacks and Suez reroutingOrigins of globalization via containerizationAutomation, AI, and future of logisticsDavos Man and elite influence on policyLobbyists, consultants, and systemic self-interestMonopoly power, antitrust, and future reformsWill vertical integration return? Toyota vs. Ford modelsFinal thoughts and how to find Peter’s workTop Quote:"We should get over this idea that billionaire interests are our interests... We can’t step away from democracy—we still have to have a say over the conditions that shape the marketplace."📺Watch on YouTube ➡️https://youtu.be/5Eu6nGGqdGA 🎙 The Pod is hosted by Jesse Wright💬 For guest suggestions, questions, or media inquiries, reach out at https://elpodcast.media/📬 Never miss an episode – subscribe and follow wherever you get your podcasts.⭐️ If you enjoyed this episode, please rate and review the show. It helps others find us. Thanks for listening!