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Thinkers & Ideas

When More is Not Better with Roger L. Martin

Aug 25, 2020
In this podcast, Martin Reeves interviews Roger L. Martin about his book on the negative consequences of pursuing economic efficiency at all costs. They discuss the flawed measurement of efficiency, the link between income distribution and efficiency, the trade-off between efficiency and resilience during the coronavirus crisis, and the impact of the over obsession with efficiency on democracy and capitalism in America.
23:52

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Quick takeaways

  • Treating the economy as a machine and focusing too much on efficiency contributes to growing inequality in American society.
  • Adopting a systems thinking approach to the economy, balancing multiple goals and considering interconnectedness, can mitigate the negative consequences of extreme efficiency.

Deep dives

The Obsession with Efficiency

The book explores the negative consequences of America's obsession with economic efficiency. While efficiency is generally seen as a good thing, the blind pursuit of efficiency, driven by imperfect proxies, has led to unintended negative outcomes for the economy and threatens democratic capitalism.

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