Efficiency is rewarded by consumer buying (voting with money) efficiently produced products.
It's not some abstract evil ideal that drives the market. It's people doing purchases.
Now, good markets need good (perfect to be precise) information. If people knew this is where we would end up (say most production moved to Asia), would they have made different choices (say to preserve manufacturing in US EU with better worker conditions)?
I would argue our economic system is just fine. But we fail in political, educational and ethical issues. Especially ethical, people know about horrible conditions in sweatshops, still there are massive queues to shop at low cost brands. I feel clothing as the most egregious, because there are decent alternative choices.
It's not some abstract evil ideal that drives the market. It's people doing purchases.
Now, good markets need good (perfect to be precise) information. If people knew this is where we would end up (say most production moved to Asia), would they have made different choices (say to preserve manufacturing in US EU with better worker conditions)?
I would argue our economic system is just fine. But we fail in political, educational and ethical issues. Especially ethical, people know about horrible conditions in sweatshops, still there are massive queues to shop at low cost brands. I feel clothing as the most egregious, because there are decent alternative choices.