The global economy is “efficient” alright: it efficiently funnels wealth to the top while leaving most of humanity behind.
Jag Bhalla writes about science, tech, and the history of ideas. He lives in Washington, DC.
Boosters of the capitalist system love pointing to statistics suggesting stunning progress in eradicating global poverty. But those metrics set the bar pathetically low — and don’t account for the obscene explosion in global inequality.