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Go back for a moment to Pareto-efficiency. What that means is that you're looking for a move which benefits yourself without harming anyone else. A Pareto-effi
by sprout 16y ago
Go back for a moment to Pareto-efficiency. What that means is that you're looking for a move which benefits yourself without harming anyone else.
A Pareto-efficient society is a society in which no such moves exist; we have the optimal wealth available. If you want more wealth, you have to take it from someone else.
So naturally, if you mistakenly believe we live in a Pareto-efficient society ( I doubt anyone would agree ) it makes it very difficult to actually create a Pareto-efficient society. It's all rather Utopian, but generally I like the sentiment.
Though I'd rather believe that Pareto-efficiency is unobtainable and we can always create more wealth.