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Because, as I said "there is a psychological, emotional or social cost in having some people much worse off than others". In order to invoke Pareto optimality y
by foobarqux 14y ago
Because, as I said "there is a psychological, emotional or social cost in having some people much worse off than others". In order to invoke Pareto optimality you must define utility functions and you can justify essentially any policy by omitting costs and externalities in those functions.