Privatisation of the means of producing capital is a tenet of capitalism, private owners make decisions based on higher profits, business growth, and market share i.e. returns to shareholders.
There is nothing inherently efficient about that other than that the decision making criteria rarely takes into account, let alone compensates for, the resources, energy and lives wasted. If these do not effect private profit then these are known as externalities and the cost is borne by society at large and the environment.
It is worth noting that as the global energy return on energy invested continues its long decline, the average standard of living only rose during the last two or three generations because of rising household debt.
The only thing capitalism is really any good at is consuming the resources of the future today through fractionally reserved debt arrangements. I think you will find that while mainstream politicians preach jobs and growth, schools are teaching about mountains of plastic in the ocean, mass global coral deaths, accelerating species eradication, global warming, ERoEI, and the impossibility of infinite growth based on the consumption of a finite natural resource stocks.
Maybe read some shit before spouting that stupid party line that the market will fix everything through efficiency. The market has effectively and efficiently gotten us to the brink of system collapse while espousing every known social corruption as a virtue.