Except employers can't capture the value of eliminating that waste, because people who can actually do 40 hours of head-down intellectual work in a 40-hour work

Except employers can't capture the value of eliminating that waste, because people who can actually do 40 hours of head-down intellectual work in a 40-hour workday are unicorns. It's employees who get screwed by this - if their managers are too concerned about waste, they can't do anything like read a book or go for a walk, so they're on Facebook and Reddit, which are much less effective as breaks from focused work.