The Supply Chain Crisis: An Alternative Perspective on the Causes, Consequences, and Policies

Abstract

Over the last two years the American economy experienced several interrelated crises: covid- 19, inflation, and the disruption of the supply chain. The focus of our paper is on the supply chain shortages. We are addressing its main causes, discussing its consequences, and suggesting policies to fix them. The emphasis is on several elements that have been overlooked by scholars, media, and industry. These elements include natural disasters, corporate consolidation, allocation of finished goods, and shift in stockpiling of raw materials.