You said earlier that employers don't allocate labor capital efficiently, but here you're saying it's on the balance sheet, which implies it is being allocated properly to create the highest value output. How do you square these seemingly conflicting points?
Are they allocating labor inefficiently (and therefore losing on the balance) or are they using it to maximal efficiency (and winning on the balance)?
Or by "efficiently" did you mean - earlier - "not for the common good but rather for their own purposes"? This "efficiently" seems ambiguous and I suspect you mean "they're not being efficient relative to the good of all". Do I have you right?