Disruptive effects of virus - errors of commission and omission?

By John Pourdehnad, Larry M. Starr, Venard Scott Koerwer, and Harry McCloskey

It is increasingly evident that the coronavirus disease, COVID-19, is more than a health problem; it is and will continue to adversely affect work and workplaces, education, families and social engagements, political and environmental dimensions, and financial indicators.

Apart from its health ramifications, the crisis is creating serious challenges in the global supply chain. Those difficulties are, at least in part, consequences of unwise, short-sighted business decisions made over the course of decades to outsource and downsize.

The late professor Russell Ackoff of the Wharton School used to say, "An economy is about generating and distributing wealth. Capitalism is great for generating wealth and socialism is good for distributing wealth. The problem with socialism is that very little is available to distribute and the problem with capitalism is the inequitable distribution of wealth."

Disruptive effects of virus - errors of commission and omission?