Efficiency towards what? Going beyond business as usual towards an inclusive and sustainable economy

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American democratic capitalism has led to unprecedented economic disparity. The obsessive pursuit of economic efficiency is driving inequality and making our economy more fragile.

While the rich are getting richer faster than ever, the middle-class family has fallen so far behind it would take three generations to recover – perhaps even longer in the wake of the COVID-19 pandemic. The profit share is at a record level, the labour share at a record low. What can be done?

You are invited to debate this question with the UCL Institute for Innovation and Public Purpose (IIPP) in a discussion with us and Professor Roger L. Martin (Rotman School of Management, University of Toronto, and on IIPP’s Advisory Board). Roger will present his new book ‘WHEN MORE IS NOT BETTER: Overcoming America’s Obsession with Economic Efficiency’.  The book reveals the dark side of efficiency, arguing we must stop viewing our economy as a perfectible machine focussed only on the bottom line, and instead understand it as a natural system that is out of balance. And how to change it.

This talk will be chaired by IIPP Director Professor Mariana Mazzucato in conversation with Roger Martin, Dr Keston Perry, (University of the West of England, Bristol) and John Elkington (Volans)

Follow the conversation at #IIPPInclusiveEconomy

Speakers:

• Roger L. Martin (Professor Emeritus, Rotman School of Management, University of Toronto; IIPP Advisory Board)
• Dr. Keston Perry (Lecturer in Economics, University of the West of England, Bristol)
• John Elkington (Co-founder and Chief Pollinator, Volans)
• Chair: Mariana Mazzucato (Founder and Director, UCL Institute for Innovation and Public Purpose)

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