When More Is Not Better: Overcoming America's Obsession with Economic Efficiency
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|Publisher:||Harvard Business Review Press|
What We're Saying
We will be announcing the overall winner of the 2020 Porchlight Business Book Awards on January 14. Until then, we thought we'd take a look back at the rest of the books on the list. Today, we have the runners up in the Leadership & Strategy category, and a look inside the book we chose as the best among them. READ FULL DESCRIPTION
Ranging from the nature of work and creativity to the foundations that our communities, business models, and economics are built upon, each of these books resonates strongly with 2020, a year like none other. READ FULL DESCRIPTION
These are the 40 books we found represent the year best in one way or another. They help us make sense of the challenges 2020 has presented us with, understand the depths of the existing cracks it has exposed in our society, and offer solutions to solve the many truly monumental challenges we face—together. READ FULL DESCRIPTION
In his latest book, Roger Martin warns us that, "In the case of American democratic capitalism, the proxies that we have adopted for measuring and driving efficiency are turning our pursuit of efficiency into a destructive force." READ FULL DESCRIPTION
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 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 this bracing yet constructive book, world-renowned business thinker Roger Martin 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. Our obsession with it has inadvertently shifted the shape of our economy, from a large middle class and smaller numbers of rich and poor (think of a bell-shaped curve) to a greater share of benefits accruing to a thin tail of already-rich Americans (a Pareto distribution).
With lucid analysis and engaging anecdotes, Martin 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. To achieve this, we need to keep in mind the whole while working on the component parts; pursue improvement, not perfection; and relentlessly tweak instead of attempting to find permanent solutions.
Filled with keen economic insight and advice for citizens, executives, policy makers, and educators, When More Is Not Better is the must-read guide for saving democratic capitalism.