American democratic capitalism is in danger. How can we save it?
For its first two hundred years, the American economy exhibited truly impressive performance. The combination of democratically elected governments and a capitalist system worked, with ever-increasing levels of efficiency spurred by a division of labor, international trade, and scientific management of companies. By the nation’s bicentennial celebration in 1976, the American economy was the envy of the world.
But since then, outcomes have changed dramatically. Growth in the economic prosperity of the average American family has slowed to a crawl, while the wealth of the richest Americans has skyrocketed. This imbalance threatens the American democratic capitalist system and our way of life.
In his brand new bracing yet constructive book, When More Is Not Better, he starkly outlines the fundamental problem: We have treated the economy as a machine, pursuing ever-greater efficiency as an inherent good. But efficiency has become too much of a good thing.
With lucid analysis and engaging anecdotes, he argues that we must stop treating the economy as a perfectible machine and shift toward viewing it as a complex adaptive system in which we seek a fundamental balance of efficiency with resilience.
Join me on this episode of the Curve Benders Podcast, with world-renowned business thinker, Roger Martin, as we discuss an obsession with economic efficiency.
Don’t forget, I turn the show notes from these podcasts into more in-depth articles, so check them out our blog at NourGroup.com/Blog.
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