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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>More on Devolution and the Walmartization of Our Economy | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="opKRU6M1Yy"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/04/more-on-devolution-and-the-walmartization-of-our-economy.html"&gt;More on Devolution and the Walmartization of Our Economy&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/04/more-on-devolution-and-the-walmartization-of-our-economy.html/embed#?secret=opKRU6M1Yy" width="600" height="338" title="&#x201C;More on Devolution and the Walmartization of Our Economy&#x201D; &#x2014; naked capitalism" data-secret="opKRU6M1Yy" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>A couple of months ago, I wrote about devolution:   It&#x2019;s become fashionable to discuss the creeping decay in advanced economies, particularly the US, both in term of third worldification and end of empire. The more apocalyptic turn to theories of collapse from writers like Jared Diamond and Jacques Tainter. But I think they miss one aspect that may prove to be important, that of how the pursuit of efficiency doesn&#x2019;t always produce net gains, as economic theory might tell us.</description></oembed>

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