Only if your measure of efficiency is more things bought and sold. An efficient economy would do the same work with the fewest goods moved the shortest distance possible. What we have is the opposite of that. You go to the store today and there's a plastic can opener that will break in 2 years and came from parts sourced half a world away instead of the metal one your grandfather has been using for the past 75 years and was stamped in a building downtown using steel also smelted downtown with ore from within the region.