DiscoverMoney For the Rest of UsThe Economy Is Not a Machine
The Economy Is Not a Machine

The Economy Is Not a Machine

Update: 2020-12-02
Share

Description

How the drive for efficiency leads to greater wealth concentration and threatens capitalism. What can be done about it.

Topics covered include:

  • Why income growth has slowed for the middle class
  • Why the economy now follows a power-law distribution rather than a normal distribution, leading to skewed outcomes
  • Why the economy is a complex adaptive system rather than a machine
  • How the type of job you have and the company you work for affects your income
  • Why greater efficiency increases the risk of catastrophic collapses
  • What are ways to balance efficiency with resiliency


Show Notes

Changes in U.S. Family Finances from 2016 to 2019: Evidence from the Survey of Consumer Finances—The Board of Governors of the Federal Reserve

How America Banks: Household Use of Banking and Financial Services—Federal Deposit Insurance Corporation

When More Is Not Better: Overcoming America’s Obsession with Economic Efficiency by Roger L. Martin

How The Economic Machine Works by Ray Dalio—Video

For more information on this episode click here.

Also, go here to learn more about Money For the Rest of Us Plus membership.


Comments 
00:00
00:00
x

0.5x

0.8x

1.0x

1.25x

1.5x

2.0x

3.0x

Sleep Timer

Off

End of Episode

5 Minutes

10 Minutes

15 Minutes

30 Minutes

45 Minutes

60 Minutes

120 Minutes

The Economy Is Not a Machine

The Economy Is Not a Machine