Private Business is Efficient at One Thing:

It's efficient at enriching the 1%.

Labor pays for that efficiency with more hours, more work, and less pay.

When you hear the canard about business efficiency, ask, from whose perspective? Actually, siphoning off profits (and not reinvesting them) is terribly inefficient. When a Jamie Dimon can accrue his wealth by destroying the economy, well yeah, that's very efficient ... for him ... not much for everyone else.

Speaking in terms of efficiency, it's all about who's the beneficiary, and from whose perspective you are relating.

When 400 people have more wealth than roughly 150 million Americans combined, you really have to ask yourself, is that an efficient allocation of wealth and resources?

Edited sufficient to efficient in the last sentence.