Modern economists are pushing towards more efficiency. They claim that the economy is achieving the same outcome with fewer resources. I completely disagree with this. The economy is about creating value for others. By doing so you create economic value and prosperity.
The problem with the efficiency focus is that it is backward thinking. What we really need in the world is future looking. Looking ahead.
Don’t get me wrong: I’m against waste. So when we do things more efficiently. Why waste resources. But we need to look at where and how we can bring the society forward than it is no efficiency.
What we need are great new innovations and new services. All we need to do in the world is serving customer needs. When we serve the needs we create the growth it’s needed.
At the moment are we looking at a very special moment in the economy? We are awaiting the collapse of the economy due to the failure of the central banks.