Do We Really Need a 24-Hour Economy?

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In mid-October, President Biden announced that the Port of Los Angeles would begin operating 24 hours a day, seven days a week, joining the nearby Port of Long Beach, which had been doing so since September. The move followed weeks of White House negotiations with the International Longshore and Warehouse Union, as well as shippers like UPS and FedEx, and major retailers like Walmart and Target.

The purpose of expanding port hours, according to The New York Times, was “to relieve growing backlogs in the global supply chains that deliver critical goods to the United States.” Reading this, you might be forgiven for imagining that an array of crucial items like medicines or their ingredients or face masks and other personal protective equipment had been languishing in shipping containers anchored off the West Coast. You might also be forgiven for imagining that workers, too lazy for the moment at hand, had chosen a good night’s sleep over the vital business of unloading such goods from boats lined up in their dozens offshore onto trucks, and getting them into the hands of the Americans desperately in need of them. Reading further, however, you’d learn that those “critical goods” are actually things like “exercise bikes, laptops, toys, [and] patio furniture.”

Fair enough. After all, as my city, San Francisco, enters what’s likely to be yet another almost rainless winter on a planet in ever more trouble, I can imagine my desire for patio furniture rising to a critical level. So, I’m relieved to know that dock workers will now be laboring through the night at the command of the president of the United States to guarantee that my needs are met. To be sure, shortages of at least somewhat more important items are indeed rising, including disposable diapers and the aluminum necessary for packaging some pharmaceuticals. Still, a major focus in the media has been on the specter of “slim pickings this Christmas and Hanukkah.”

Providing “critical” yard furnishings is not the only reason the administration needs to unkink the supply chain. It’s also considered an anti-inflation measure (if an ineffective one). At the end of October, the Consumer Price Index had jumped 6.2 percent over the same period in 2020, the highest inflation rate in three decades. Such a rise is often described as the result of too much money chasing too few goods. One explanation for the current rise in prices is that, during the worst months of the pandemic, many Americans actually saved money, which they’re now eager to spend. When the things people want to buy are in short supply—perhaps even stuck on container ships off Long Beach and Los Angeles—the price of those that are available naturally rises.

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