Everyone wants to be more efficient; who doesn’t like the idea of doing more in less time? Unfortunately, our desire to achieve efficiency is ultimately becoming self-destructive and obsessive. But productivity is an idling economy’s problem, not its solution. We are currently live in the most efficient economy in human history. Our economy is very good at utilizing resources at the lowest cost, but operating at such low costs is hurting job creation and minimum wage. While our economy maybe efficient, it lacks in every other aspect.
Productivity is as significant to the economy as efficiency. Productivity makes things cheaper and better. Productivity looks like cures for cancer, vaccines, and the internet. Productivity doesn’t simply cover the little conveniences, they can transform lives. Productivity can even generate new markets. In many cases, the economies determination to obtain streamline efficiency has cost us productive breakthroughs.
The economy has become so centered around efficiency that 99 percent of the economy is working for the 1 percent. A well-run economy relies on innovations which increases income and the middle class. The economy needs a thriving middle class to reach its full potential. Instead of having the top 1 percent being the most efficient, we need to have the entire economy contributing in order to have the most prosperous economy. We cannot have real breakthroughs if 99 percent of the economy is too busy tending to the 1 percent. Therefore, investors, innovators, managers, CEO’s, and workers must break away from the restricting hold of tending to the 1 percent and generate breakthroughs on our own.