Today, with supply chains tangled in knots and shortages everywhere in the economy, it’s easy to blame what’s gone wrong merely on the disruptions caused by Covid. Indeed, David Frum at the Atlantic is the latest to mock the idea that there is something wrong with our markets that set us up with a fragile system. Frum criticized the new approach to concentration as taking us back to the 1970s. Pursuing ‘resiliency’ translates in “plainer English as higher taxes and higher prices.” Instead, he suggests that we should, in the face of inflation and shortages, “do nothing,” because the immutable laws of supply and demand will work themselves out. There are a couple of reasons that dismissive attitude doesn’t make sense. Matt Stoller’s newsletter, Big, explains how a buying cartel has controlled US medical supplies for 25 years.