"Efficient" for whom, over what time-frame, and by what definition?
"Efficient capital allocation" is another hand-wavey concept with no clear definition which is far too often used to justify fundamentally evil results, up to and including arguably the most massive and fundamentally stupid strategic blunder in history.
The USA was the worlds remaining superpower and was democratic.
But based on "efficient capital allocation", the USA decided it was more "efficient" to offshore its "fungible" labor to cheaper Chinese workers. This gutted entire regions and sectors of the economy, literally destroyed the middle class which formed the basis of stability in the country, and handed to an adversarial authoritarian regime both numerous choke-points on it's economy and defense capabilities and technological advantages sufficient to turn it into a serious peer-threat. On top of that, the gutting of the economy brought about conditions for a full-on assault in democracy in the USA.
You seriously need to rethink your "philosophy" based on glib quips.
"Efficient capital allocation" is another hand-wavey concept with no clear definition which is far too often used to justify fundamentally evil results, up to and including arguably the most massive and fundamentally stupid strategic blunder in history.
The USA was the worlds remaining superpower and was democratic.
But based on "efficient capital allocation", the USA decided it was more "efficient" to offshore its "fungible" labor to cheaper Chinese workers. This gutted entire regions and sectors of the economy, literally destroyed the middle class which formed the basis of stability in the country, and handed to an adversarial authoritarian regime both numerous choke-points on it's economy and defense capabilities and technological advantages sufficient to turn it into a serious peer-threat. On top of that, the gutting of the economy brought about conditions for a full-on assault in democracy in the USA.
You seriously need to rethink your "philosophy" based on glib quips.