Thankfully, the domestic production of personal protective equipment (PPE) is predicted to vastly expand in the next five years.
Back on March 5, a full month before government’s “experts,” national and international, stopped fumbling, lying and dissembling about the effectiveness of masks, I foresaw what IBISWorld, an industry research company, now confirms. I wrote:
A rise in consumer demand for this product, reflected in empty shelves and relatively higher prices, will galvanize business to hire more workers and produce more of the coveted commodity.
Prices are crucial. They are the street signs of the economy. The thing the socialists will soon insist on controlling (“price-controls”) and suppressing are the vital signs of the economy. In particular, scarcity and high prices are vital signals. Mask these natural market indices, and you kill off the knowledge needed by manufacturers and entrepreneurs to decide whether to rush into the production of surgical face masks and N-95 respirators.
Masks and all others pandemic prophylactics are currently exorbitantly priced to reflect high demand and subsequent scarcity. These prices have already been taken by producers as a signal to accelerate productions.
IBISWorld now forecasts an “increased emphasis on domestic production capacity in the interest of national security.” It expects “the industry’s trade balance to shift from a deficit to a surplus over the five years to 2025.”
SEE: “Unmasking Statist, Socialist Propaganda About ‘Face Masks”’(March 5)
IBISWorld further reports that “the PPE manufacturing industry has seen an unprecedented surge in demand for N95 masks, respirators, face shields and gloves. The industry’s largest operators are operating at maximum capacity and are currently or intending to expand their domestic production capacity within the year.”
For this, we owe the profit motive, not American leaders. As a rule, the latter have no compunction about leaving their pliant people in the lurch during disasters. The U.S. government knows its loyalists will do anything, including to deny COVID is real, to help their leaders save face.