Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write an agreeing or disagreeing response to this statement: Too much resilience could lead to several problems. First and foremost is the allocation of resources.

Write an agreeing or disagreeing response to this statement: Too much resilience could lead to several problems. First and foremost is the allocation of resources. The author notes this with chip shortages stalling vehicle production and an eighty percent drop in manufacturer cashflows. These resilient systems may be inefficient with their resources. The main problem here is that it discourages market dynamics with resources coming from less productive sectors. This misallocation can hinder long-term economic development. Secondly, a short-term effect is a fragmented and volatile market. Additional tariffs (such as solar panels), higher taxes, and inflation could increase government debt or stress the public financially. While I agree that becoming too resilient can lead to many problems, the authors' overall message is of striking a balance between resilience and adaptability is crucial for a sustainable global economy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics Of Inequality

Authors: Thomas Piketty, Arthur Goldhammer

1st Edition

0674504801, 9780674504806

More Books

Students also viewed these Economics questions