• EU,  Politics,  UK

    Maybe economic efficiency is not all it’s cracked up to be

    Neil Irwin writing in today’s New York Times has suggested that the chasm opening up on both sides of the Atlantic is between the economic elite who favour a “dynamic globalized economy” – bankers, trade negotiators, international business people and mainstream political leaders. “Efficiency sounds great in theory. What kind of monster doesn’t want to optimize possibilities, minimize waste and make the most of finite resources? But the economic and policy elite may like efficiency a lot more than normal humans do.” ” Perhaps the pursuit of ever higher gross domestic product misses a fundamental understanding of what makes most people tick.” There has been a rejection of expert opinion in the…

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