Authors Glenn Hubbard and Tony O’Brien discuss the economic impact of the recent infrastructure bill and what role fiscal policy plays in determining shovel-ready projects. Also, they explore the vast impact of the economy-wide supply-chain issues and the challenges companies face. Until the pandemic, we had a very efficient supply chain but now we’re seeing companies employ the “just-in-case” inventory method vs. “just-in-time”!
Some links referenced in the podcast:
Here’s Alan Cole’s blog: https://fullstackeconomics.com/how-i-reluctantly-became-an-inflation-crank/
Neil Irwin wrote a column referencing Cole here: https://www.nytimes.com/2021/10/10/upshot/shadow-inflation-analysis.html
Here’s a Times article on the inefficiency of subway construction in NYC: https://www.nytimes.com/2017/12/28/nyregion/new-york-subway-construction-costs.html
A recent article on the state of CA’s bullet train: https://www.kcra.com/article/california-bullet-trains-latest-woe-high-speed/37954851
A WSJ column on goods v. services: https://www.wsj.com/articles/at-times-like-these-inflation-isnt-all-bad-11634290202