Add one more nuance to your analysis: extreme ineffectiveness of the wealth and well-being measurement. Owners of factories count money as the simplest method to evaluate the effectiveness. And, as any self-tuning system, where there is some “performance indicator”, all is tuning to increase the indicator value, not the value itself. So, as a result, we have factories producing an enormous amount of useless shit that is bought by customers only because all factories behave in this very way. All this leads to an excessive usage of resources and energy while providing very little to the well-being.
The lack of long-term analysis is to blame. Nobody cares what will be in 10 years.
Add one more nuance to your analysis: extreme ineffectiveness of the wealth and well-being measurement. Owners of factories count money as the simplest method to evaluate the effectiveness. And, as any self-tuning system, where there is some “performance indicator”, all is tuning to increase the indicator value, not the value itself. So, as a result, we have factories producing an enormous amount of useless shit that is bought by customers only because all factories behave in this very way. All this leads to an excessive usage of resources and energy while providing very little to the well-being.
The lack of long-term analysis is to blame. Nobody cares what will be in 10 years.