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Capitalism efficient? We can do so much better

2013-03-16 14:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: What's efficiency got to do with capitalism? The short answer is little or nothing. Economic and social collapses in Detroit, Cleveland and many other US cities did not happen because production was inefficient there. Efficiency problems did not cause the longer-term economic declines troubling the US and western Europe. Capitalist corporations decided to relocate production: first, away from such cities, and now, away from those regions. It has done so to serve the priorities of their major shareholders...

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