The following is Steve Ballmer’s recent letter to CEOs titled ‘The New Efficiency’. In all the talk about the economy, one term that comes up more and more frequently is something called "the new normal." I like this phrase because it speaks to the fact that economic reality has undergone a fundamental shift over the course of the past 12 months. So what is the nature of this shift? After years of economic expansion fueled by unrealistic rates of consumption and unsustainable levels of private debt,...