MARC Record from Library of Congress

LEADER: 02837cam a2200385 i 4500
001 2015000804
003 DLC
005 20151211084030.0
008 150205s2015 nyu b 001 0 eng
010 $a 2015000804
020 $a9781633880405 (hardback)
020 $z9781633880412 (e-book)
040 $aDLC$beng$cDLC$erda$dDLC
042 $apcc
043 $an-us---
050 00 $aHD5724$b.W4176 2015
082 00 $a330$223
084 $aBUS069000$aPHI034000$aSOC026000$2bisacsh
100 1 $aWenz, Peter S.
245 10 $aFunctional inefficiency :$bthe unexpected benefits of wasting time and money /$cPeter S. Wenz.
264 1 $aAmherst, NY :$bPrometheus Books,$c2015.
300 $a444 pages ;$c24 cm
336 $atext$2rdacontent
337 $aunmediated$2rdamedia
338 $avolume$2rdacarrier
520 $a"How can we reduce unemployment? As this insightful and counterintuitive book shows, the surprising answer is inefficiency. Some of the most labor-intensive sectors of the economy, the author notes, are also the most inefficient. But this inefficiency is functional--rather than impairing the economy, it bolsters employment and fosters economic growth. Technological progress increases efficiency and reduces the need for workers in manufacturing, mining, agriculture, and many services. So how do we keep people working? By maintaining inefficiencies in other areas, such as in our systems of transportation and healthcare. The author documents the waste of time and money in hospital systems, the insurance and pharmaceutical industries, automotive travel, road construction, and road maintenance. These inefficiencies are tolerated because they provide a lot of jobs and promote economic growth, making them functional inefficiencies. Most of these inefficiencies can be reduced without increasing unemployment or impairing economic growth, the author claims, through increased investment in physical and human infrastructure. However, continued inefficiencies inherent in consumerism can't be eradicated without economic decline, making some inefficiency essential as well as functional. Functional Inefficiency offers a wealth of details and a unique analysis of our economic system, plus hope for our future prospects through reduced inefficiency"--$cProvided by publisher.
504 $aIncludes bibliographical references (pages 367-412) and index.
650 0 $aUnemployment$zUnited States.
650 0 $aTechnological innovations$xEconomic aspects$zUnited States.
650 0 $aEconomic development$zUnited States.
651 0 $aUnited States$xEconomic policy$y21st century.
650 7 $aBUSINESS & ECONOMICS / Economics / General.$2bisacsh
650 7 $aPHILOSOPHY / Social.$2bisacsh
650 7 $aSOCIAL SCIENCE / Sociology / General.$2bisacsh
856 42 $3Cover image$u9781633880405.jpg