Questioning business as usual

It isn't news to anyone that there's something wrong with our economy.  And I'm not just talking about the crash or the bailouts either.

In my high school economics class we learned that the goal of an economic system is to efficiently use and equitably distribute resources in a society.  Somewhere, it seems like we've veered off course.

Is it an efficient use of resources to cut down trees, burn fossil fuels, pollute our land, air and water to make cups, cartons and cameras that will only be used once and then thrown into landfills?  Is it equitable that executives receive million dollar bonuses as they lay off hundreds of workers?  Does it make sense that in a time and place of so much natural, material and technological wealth, food banks are serving record numbers of people?

It seems like business as usual isn't working for us anymore.

In her book, True Wealth (previously published as Plenitude), Juliet Schor suggests an alternative.  In a nutshell, she suggests that we work less, buy less, create more and connect more.  If people could work fewer hours, we could reduce unemployment by sharing the work amongst more people.  The lower income associated with shorter hours could also restrict consumption, thereby saving natural resources.  Fewer hours at work also means more hours of leisure, which people could use to create more on their own (through cooking, sewing, DIY projects, etc.).  Finally, more free time means more time to connect with other people and build community.

Sounds like a pretty good idea to me.