The name is a reference to the Challenger disaster, which was caused by a failure of actual sealing O-rings, but the theory itself is abstract.
Basically, it's modeling complex production chains where the quality of the "weakest link" is the limiting factor of the quality of the whole process.
This is about how Y works, not as a function of t but of, well, everything else.
It wasn’t really a “design flaw” or “weak link” as much as it was management disregarding the warnings of engineering staff. The cold temperature limitation was known in advance by the Morton Thiokol engineers but their management refused to relay the warnings of engineering to NASA and NASA was under pressure to fly. IMHO this was a failure of multiple, mostly organizational, systems rather than “one weak link”.
Did the economists mis-name their own theory?
Was surprised to see this here; i think it is a good model for thinking about tech productivity
> The strength of a chain depends on the strength of its weakest link. When activities have chain-link logic, the strength of the weakest, or least efficient, part limits the performance of the whole. Thus, a solid rubber O-ring was the weakest link for the Space Shuttle Challenger. Falling out of the winter sky in 1986, it shattered onto the ocean below, killing the crew President Reagan called “pride of our nation.” For the Challenger, making the booster engines stronger or improving its communications systems would be foolish investments if the O-ring remained weak.