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Efficiency in economics has a particular technical definition.
Pareto efficiency or Pareto optimality is a situation where no action or allocation is available that makes one individual better off without making another worse off
Free markets are great at producing outcomes that are efficient in a particular technical sense, but not especially equitable.
Efficiency in economics has a particular technical definition.
Free markets are great at producing outcomes that are efficient in a particular technical sense, but not especially equitable.
Yes, capitalism is insanely efficient at its real purpose - funneling wealth to the top.