Efficiency isn't always a good thing. Efficient systems can be more brittle, more centralized, and with errors that correlate. This is the story of inventing mo

Efficiency isn't always a good thing. Efficient systems can be more brittle, more centralized, and with errors that correlate. This is the story of inventing more and more efficient financial products until the whole system collapses due to interdependencies. Sometimes you gain a lot by having deliberate inefficiencies.