What you're left with is social inefficiencies instead of material or process inefficiencies. It's like trying to fix bad management at a company through engine

What you're left with is social inefficiencies instead of material or process inefficiencies. It's like trying to fix bad management at a company through engineering fixes: it just doesn't work. You have to solve the human problem. Also, the world is limited: you can't balloon out resource usage indefinitely to appease bad societal patterns. Eventually external factors will intervene such as resource exhaustion, ecosystem collapse, climate change, etc.