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 shortages Story of Glow, a Mississippi startup navigating China-based manufacturing The complexity of building simple products and iPhones Overdependence on China and difficulties in diversification The resilience and brittleness of just-in-time manufacturing Role of government and Wall Street in shaping supply chains Semiconductor shortages and the Arizona TSMC plant Historical context: Henry Ford and vertical integration Corporate financialization and buybacks vs. reinvestment Shift toward treating supply chains as national security The role of microchips in defense and economic power Trade, offshoring, and consequences for U.S. labor McKinsey and the consulting industry's influence Trucking industry realities and labor conditions Labor shortages and deteriorating job quality Current disruptions: Houthi attacks and Suez rerouting Origins of globalization via containerization Automation, AI, and future of logistics Davos Man and elite influence on policy Lobbyists, consultants, and systemic self-interest Monopoly power, antitrust, and future reforms Will vertical integration return? Toyota vs. Ford models Final thoughts and how to find Peter’s work Top 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!