The Shocking Reality: How Corporations Hijacked the Global Supply Chain Amidst COVID-19

On the latest episode of Lever Time, we explore the role of corporations in shaping the global supply chain. The COVID-19 pandemic exposed shortages in supplies such as toilet paper, hand sanitizer, microchips and exercise bikes, leading to economic instability. Peter Goodman, a seasoned New York Times reporter covering the global economy, sheds light on this complex history in his new book “How the World Ran out of Everything: Inside the Global Supply Chain.”

Goodman reveals how the supply chain initially went global before becoming consolidated and ultimately controlled by just three companies. This consolidation resulted in a crisis that impacted regions across the world. As inflation began to affect the economy, corporations saw an opportunity to exploit consumer desperation by raising prices, resulting in what has been coined as “greedflation.” In this episode of Lever Time, Goodman discusses this behavior with Lindsay Owens, the executive director of The Groundwork Collaborative and Arjun Singh, senior podcast producer.

If you’re interested in learning more about this topic, be sure to check out an unedited transcript of the episode by clicking here.