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Why is "overall efficiency" in any way important? As compared to people having stable livelihoods, diverse and wonderful local businesses instead of "efficient"
by jlangenauer 7y ago
Why is "overall efficiency" in any way important? As compared to people having stable livelihoods, diverse and wonderful local businesses instead of "efficient" and monotonous chains.
The obsession with efficiency at the cost of other, far more worthy virtues is what has brought us to this point, where "efficient" global supply chains cannot now produce urgently needed goods at a time of crisis.
- GarrisonPrime 7y agoBeing devil's advocate a bit here, but efficiency helps prevent boom and bust cycles, or at least reduces their magnitude. Supporting "worthy virtues" is all well and good, except that it's subjective and not always well thought out, leading to unfortunate consequences. I'm sure plenty of people thought it great to help Sally Struthers feed the 3 million starving African children in the 80's...until the result was 10 million starving African children.
- Chris2048 7y agoWhat guarantees stability? Killing off the competition in favour of business owners who are able to balance the books is one way. > The obsession with efficiency at the cost of other, far more worthy virtues Having many competing businesses does not ensure these other virtues arise. Having a mechanism whereby the better businesses rise make it more likely they have the income to explore.