Except that... optimizing the prices/competitiveness of the economy and optimizing the overall good for the society are two different objectives, isn't it? Chasing one with means for the other is what brought US in the current situation.
Your comment is actually very profound. People treat economics and business as some sort of mathematical equation to optimize. "Pay the least amount to workers, make the most profit from the poor saps that must buy our products. Collect profits." The economy is a fake man-made framework we arrange ourselves on and hope to get as nice of a life, as free from want, as we can. I think almost everyone can't see that anymore. Money is just paper, we are really just trying to make a nice pleasant society with its distribution. If that is not being accomplished, those working saps (us) are fools for continuing in the current mode.
It is not for me to attempt to fathom the inscrutable workings of Providence. -- The Earl of Birkenhead