I've been struggling with the commonly accepted notion in computer science that exponential algorithms are inefficient. The standard explanation is that they "grow exponentially in the size of the input", but this explanation does not sound so satisfactory. It does not fully capture why exponential growth specifically makes these algorithms impractical in our physical world.
For instance, consider a hypothetical thought experiment where an intelligent alien from another universe - where exponential algorithms can be run efficiently - asks why these algorithms are inefficient here. Saying "because they grow exponentially" would not clarify much. The alien might still be confused because exponential growth alone isn't inherently a problem; it's the limitation in our physical world that make it so.
I am seeking references to scientific papers or textbooks or even answers that provide a thorough examination of this topic, including data or theoretical reasoning that supports why exponential algorithms are deemed inefficient compared to polynomial ones. Most computer science textbooks and resources I've found, often restrict their focus to polynomial-time algorithms without delving into the deeper reasoning or evidence behind these classifications. How should we answer the alien in this hypothetical scenario?
Additionally, where do we draw the line between efficient and inefficient algorithms? Is any algorithm that takes longer than polynomial-time algorism considered inefficient?