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Joseph Stiglitz on How to Build Shock-Proof Supply Chains | Odd Lots

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. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots:    • Odd Lots   Get the Odd Lots newsletter via https://www.bloomberg.com/account/new... And for all things Odd Lots, visit https://www.bloomberg.com/oddlots Visit our other YouTube channels: Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake   #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter:   / podcasts   For coverage on news, markets and more: http://www.bloomberg.com/video