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A thoughtful article from Ben Bernanke and Peter Olson on a new measure of economic welfare. It comes complete with computer program, if you read the article by the authors of the key paper reviewed here.

Ben Bernanke and Peter Olson tackle the question using a new, more-comprehensive measure of economic well-being.

Source: Are Americans better off than they were a decade or two ago? | Brookings Institution

An older article (February 2016), and a lot has happened since then. But the picture is still the same.

The prediction is that reliability of ocean service will go down.  Especially if you measure it end-to-end rather than simply the sea leg. And this will lose credibility for the entire industry.  To improve, ocean carriers MUST cooperate with onshore portions of customers’ supply chains, including port terminals, drayage, yards, warehouses, rail, and last mile delivery.

Our panel suggests that carrier consolidation will continue, but will be largely confined to specific trade lanes and commodity niches. In the meantime, shippers and carriers must cooperate at an unprecedented level for sustainable solutions to emerge.

Source: 2016 Ocean Cargo Roundtable: Capacity front and center – Logistics Management