The Economy Is Not a Machine
Money For the Rest of Us · Money For the Rest of Us
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Show Notes
How the drive for efficiency leads to greater wealth concentration and threatens capitalism. What can be done about it.
Topics covered include:
- Why income growth has slowed for the middle class
- Why the economy now follows a power-law distribution rather than a normal distribution, leading to skewed outcomes
- Why the economy is a complex adaptive system rather than a machine
- How the type of job you have and the company you work for affects your income
- Why greater efficiency increases the risk of catastrophic collapses
- What are ways to balance efficiency with resiliency
Show Notes
When More Is Not Better: Overcoming America’s Obsession with Economic Efficiency by Roger L. Martin
How The Economic Machine Works by Ray Dalio—Video
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