Difference between revisions of "Pareto at Melos"

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{{DES | des = The first fundamental theorem of welfare economics relies on false premises, and thus doesn't say anything about the virtues of actually-existing markets.  But worse, the same optimality claims can be made on behalf of the most morally objectionable way of allocating resources, naked coercion. | show=}}
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{{DES | des = Pareto optimality claims can be made on behalf of the most morally objectionable way of allocating resources, naked coercion.  And the first fundamental theorem of welfare economics relies on false premises, and thus doesn't say anything about the virtues of actually-existing markets. | show=}}
 
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Latest revision as of 12:44, 12 June 2018