Posted at Hartmann Report on Mar. 1, 2023
In Praise of Inefficiency: Should We Serve the Economy or Should It Serve Us?
It’s become a virtual religion among America’s CEO class: maximize efficiency no matter what it does to customers, communities, or employees - Inefficiency, it turns out, has considerable upsides.
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It’s become a virtual religion among America’s CEO class: maximize efficiency no matter what it does to customers, communities, or employees.
The result has been an explosion of efficiency across the corporate spectrum, leading to monopoly, oligopoly, price-gouging, a crippled small-business sector, staggering profits, devastated downtowns, and even driving today’s inflation.