Joseph Stiglitz on How to Build Shock-Proof Supply Chains
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 11 July 2024
⏱️ 60 minutes
🧾️ Download transcript
Summary
Joseph Stiglitz is a Nobel Prize-winning economist known for his groundbreaking work on information gaps and risk-taking in markets. But he's recently turned his attention to supply chains and how to make them more resilient in the face of shocks like the 2020 pandemic. In this episode, we discuss why companies often hesitate to maintain extra inventories — and why this tends to be the case even during stable economic periods. We talk about possible solutions to incentivize firms to invest in larger capacity buffers and promote better long-term economic practices. The conversation also touches on industrial policy, the role of international institutions in the global economy, and strategies to ensure that economic growth benefits everyone more fairly.
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| 1:05.0 | Podcasts, Podcasts, Radio News. Hello and welcome to another episode of the Odd Lots Podcast I'm |
| 1:25.0 | I'm Tracy Allaway. And I'm Joe Wiesenthal. |
| 1:27.0 | Joe, you did international relations at university, didn't you? |
| 1:30.0 | Yeah, I did. |
| 1:32.0 | I don't remember any of it. Actually, technically at University of Texas, the |
| 1:36.1 | major was called government, which was sort of Polysai, international relations. I don't |
| 1:41.0 | remember any of it at a good time but yeah anyway yes it is all a blur for me as well |
| 1:47.4 | So just to be clear it's not because I was like parting like crazy. I didn't have much fun in college |
| 1:52.3 | You know it's just one of those sort of |
| 1:53.9 | of liberal arts degrees that you remember a few ideas from and then you move on. |
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