Does the US government have any planning in place to ensure there's no shortages of food, fuel, steel and...
Every time we go shopping store shelves are full of food, gas stations are stocked up on gas, car dealerships have no shortage of cars, etc. But who is ensuring that all of the complex processes required to maintain this state of affairs go smoothly? Is it just the free market doing its thing without any coordination? Or is there an office somewhere in DC where a big committee draws up a plan to ensure that no shortages take place in the foreseeable future?
economy policy
asked 3 hours ago
JonathanReezJonathanReez
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Every time we go shopping store shelves are full of food, gas stations are stocked up on gas, car dealerships have no shortage of cars, etc. But who is ensuring that all of the complex processes required to maintain this state of affairs go smoothly? Is it just the free market doing its thing without any coordination? Or is there an office somewhere in DC where a big committee draws up a plan to ensure that no shortages take place in the foreseeable future?
economy policy
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
add a comment |
Every time we go shopping store shelves are full of food, gas stations are stocked up on gas, car dealerships have no shortage of cars, etc. But who is ensuring that all of the complex processes required to maintain this state of affairs go smoothly? Is it just the free market doing its thing without any coordination? Or is there an office somewhere in DC where a big committee draws up a plan to ensure that no shortages take place in the foreseeable future?
economy policy
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
Every time we go shopping store shelves are full of food, gas stations are stocked up on gas, car dealerships have no shortage of cars, etc. But who is ensuring that all of the complex processes required to maintain this state of affairs go smoothly? Is it just the free market doing its thing without any coordination? Or is there an office somewhere in DC where a big committee draws up a plan to ensure that no shortages take place in the foreseeable future?
economy policy
economy policy
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
asked 3 hours ago
JonathanReezJonathanReez
13.7k1578156
13.7k1578156
add a comment |
add a comment |
1 Answer
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Although the United States generally avoids economic planning (and even industrial policy), this is not to say the government leaves everything to the market. I don't have much expertise on this topic so I'm sure the following list will be incomplete. But here are some examples of ways that the federal government intervenes to ensure the continued availability of basic consumer products.
Fuel and energy: 1) The Strategic Petroleum Reserve is an emergency supply of crude oil maintained by the federal government. This system was created as a response to shortages in the 1970s. It currently has about 30 days supply. 2) The Federal Energy Regulatory Commission oversees the development of energy transmission infrastructure like pipelines and the electrical grid.
Food: 1) The United States government has intermittently held strategic grain reserves. However since the 1970s at least, these seem to have been for foreign aid, not domestic consumption. 2) The USDA's National Agricultural Statistics Service closely monitors the national food supply month by month. 3) Other parts of the USDA provide subsidies, technical assistance, and other forms of support to farmers which help ensure an adequate food supply.
General: The Federal Reserve tracks things like price inflation for durable goods, which may influence monetary policy and other measures.
Finally I will note that during the Great Depression and especially during the two World Wars, federal intervention in the markets for basic commodities was far more active. See for example the War Production Board.
edited 50 mins ago
Brythan
68.3k8142233
answered 2 hours ago
Brian ZBrian Z
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add a comment |
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1 Answer
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1 Answer
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Although the United States generally avoids economic planning (and even industrial policy), this is not to say the government leaves everything to the market. I don't have much expertise on this topic so I'm sure the following list will be incomplete. But here are some examples of ways that the federal government intervenes to ensure the continued availability of basic consumer products.
Fuel and energy: 1) The Strategic Petroleum Reserve is an emergency supply of crude oil maintained by the federal government. This system was created as a response to shortages in the 1970s. It currently has about 30 days supply. 2) The Federal Energy Regulatory Commission oversees the development of energy transmission infrastructure like pipelines and the electrical grid.
Food: 1) The United States government has intermittently held strategic grain reserves. However since the 1970s at least, these seem to have been for foreign aid, not domestic consumption. 2) The USDA's National Agricultural Statistics Service closely monitors the national food supply month by month. 3) Other parts of the USDA provide subsidies, technical assistance, and other forms of support to farmers which help ensure an adequate food supply.
General: The Federal Reserve tracks things like price inflation for durable goods, which may influence monetary policy and other measures.
Finally I will note that during the Great Depression and especially during the two World Wars, federal intervention in the markets for basic commodities was far more active. See for example the War Production Board.
edited 50 mins ago
Brythan
68.3k8142233
answered 2 hours ago
Brian ZBrian Z
2,373614
add a comment |
Although the United States generally avoids economic planning (and even industrial policy), this is not to say the government leaves everything to the market. I don't have much expertise on this topic so I'm sure the following list will be incomplete. But here are some examples of ways that the federal government intervenes to ensure the continued availability of basic consumer products.
Fuel and energy: 1) The Strategic Petroleum Reserve is an emergency supply of crude oil maintained by the federal government. This system was created as a response to shortages in the 1970s. It currently has about 30 days supply. 2) The Federal Energy Regulatory Commission oversees the development of energy transmission infrastructure like pipelines and the electrical grid.
Food: 1) The United States government has intermittently held strategic grain reserves. However since the 1970s at least, these seem to have been for foreign aid, not domestic consumption. 2) The USDA's National Agricultural Statistics Service closely monitors the national food supply month by month. 3) Other parts of the USDA provide subsidies, technical assistance, and other forms of support to farmers which help ensure an adequate food supply.
General: The Federal Reserve tracks things like price inflation for durable goods, which may influence monetary policy and other measures.
Finally I will note that during the Great Depression and especially during the two World Wars, federal intervention in the markets for basic commodities was far more active. See for example the War Production Board.
edited 50 mins ago
Brythan
68.3k8142233
answered 2 hours ago
Brian ZBrian Z
2,373614
add a comment |
Although the United States generally avoids economic planning (and even industrial policy), this is not to say the government leaves everything to the market. I don't have much expertise on this topic so I'm sure the following list will be incomplete. But here are some examples of ways that the federal government intervenes to ensure the continued availability of basic consumer products.
Fuel and energy: 1) The Strategic Petroleum Reserve is an emergency supply of crude oil maintained by the federal government. This system was created as a response to shortages in the 1970s. It currently has about 30 days supply. 2) The Federal Energy Regulatory Commission oversees the development of energy transmission infrastructure like pipelines and the electrical grid.
Food: 1) The United States government has intermittently held strategic grain reserves. However since the 1970s at least, these seem to have been for foreign aid, not domestic consumption. 2) The USDA's National Agricultural Statistics Service closely monitors the national food supply month by month. 3) Other parts of the USDA provide subsidies, technical assistance, and other forms of support to farmers which help ensure an adequate food supply.
General: The Federal Reserve tracks things like price inflation for durable goods, which may influence monetary policy and other measures.
Finally I will note that during the Great Depression and especially during the two World Wars, federal intervention in the markets for basic commodities was far more active. See for example the War Production Board.
edited 50 mins ago
Brythan
68.3k8142233
answered 2 hours ago
Brian ZBrian Z
2,373614
Although the United States generally avoids economic planning (and even industrial policy), this is not to say the government leaves everything to the market. I don't have much expertise on this topic so I'm sure the following list will be incomplete. But here are some examples of ways that the federal government intervenes to ensure the continued availability of basic consumer products.
Fuel and energy: 1) The Strategic Petroleum Reserve is an emergency supply of crude oil maintained by the federal government. This system was created as a response to shortages in the 1970s. It currently has about 30 days supply. 2) The Federal Energy Regulatory Commission oversees the development of energy transmission infrastructure like pipelines and the electrical grid.
Food: 1) The United States government has intermittently held strategic grain reserves. However since the 1970s at least, these seem to have been for foreign aid, not domestic consumption. 2) The USDA's National Agricultural Statistics Service closely monitors the national food supply month by month. 3) Other parts of the USDA provide subsidies, technical assistance, and other forms of support to farmers which help ensure an adequate food supply.
General: The Federal Reserve tracks things like price inflation for durable goods, which may influence monetary policy and other measures.
Finally I will note that during the Great Depression and especially during the two World Wars, federal intervention in the markets for basic commodities was far more active. See for example the War Production Board.
edited 50 mins ago
Brythan
68.3k8142233
answered 2 hours ago
Brian ZBrian Z
2,373614
edited 50 mins ago
Brythan
68.3k8142233
edited 50 mins ago
Brythan
68.3k8142233
edited 50 mins ago
Brythan
68.3k8142233
68.3k8142233
answered 2 hours ago
Brian ZBrian Z
2,373614
answered 2 hours ago
Brian ZBrian Z
2,373614
answered 2 hours ago
Brian ZBrian Z
2,373614
2,373614
add a comment |
add a comment |
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