via NYT I by Peter S. Goodman and Niraj Chokshi I June 1, 2021

How the World Ran Out of Everything

…Still, the shortages raise questions about whether some companies have been too aggressive in harvesting savings by slashing inventory, leaving them unprepared for whatever trouble inevitably emerges.

“It’s the investments that they don’t make,” said William Lazonick, an economist at the University of Massachusetts.

Intel, the American chip-maker, has outlined plans to spend $20 billion to erect new plants in Arizona. But that is less than the $26 billion that Intel spent on share buybacks in 2018 and 2019 — money the company could have used to expand capacity, Mr. Lazonick said…”

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