(Economic and Outlook Policy Series) Covid meets the supply chain: Are inflation and empty shelves Joe Biden’s fault?
The supply chain was highly likely to be vulnerable to the Covid-19 Pandemic, but around the world, governments and key supply-chain players have surprisingly been caught off guard. Rising inflation is the result and is plaguing economies around the world. The U.S. in particular has suffered from inflation rates not seen in four decades. Even with “labor shortages” and talk of a “Great Resignation,” wages have lag rising prices and living standards for large shares of Americans have declined. Professor Mark Partridge will discuss how much of this is President Biden’s fault and provide some insights for his future political fortunes. He will further elaborate on what can be done to reverse the inflationary spiral and appraise how much longer the pain will persist?
Target audience: Students, faculty, staff, extension professionals and community members