Ethics of Efficiency

Irene van Staveren ()

VOPROSY ECONOMIKI, 2009, vol. 12

Abstract: The article considers problems and contradictions arising from applications of the concept of Pareto-efficiency as the most widely used criterion for evaluating efficiency of economic outcomes. The author shows that this criterion is inadequate when applied to ethical issues. An accent on utility and strict adherence to the principles of freedom of choice are impediments to the correct evaluation of perverse needs, waste of resources or preferences which are potentially harmful for others. The article proposes another efficiency criterion based on minimizing resource waste. This criterion is better suited for following the principles of equity and justice than the Pareto-efficiency concept.

Date: 2009-12
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Persistent link: http://EconPapers.repec.org/RePEc:nos:voprec:2009-12-4

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