Regulation, Not Offshoring, Is Hindering Industry from Ramping up Production

In his latest Bloomberg column, Noah Smith argues that offshoring production led to the current shortage of medical masks and equipment in the face of the coronavirus. The real question is: Why can’t we suddenly switch production and churn out millions of masks a day in the face of an unanticipated calamity? The answer to that is not offshoring, but regulation.