Boring people with a background in economics, like me, often talk about tradeoffs, and this article highlights some of the tradeoffs made in our healthcare distribution system.

I am struck by the current events of severe weather in Texas and other places that don’t normally get this cold, and the words “health care” could easily be replaced by “energy”, or for that matter any number of industrial systems, education systems, etc.

The search for supply chain efficiencies has made our health care system leaner and more global. But this efficiency has come at the cost of resilience, with hospitals and health care providers now dependent on fragile global supply chains vulnerable to disruptions from “black swan” events like Covid-19.

Douglas Hannah, Harvard Business Review