Myth of efficiency

Murray Rothbard
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Murray Rothbard: "Classics of economy" series

Ekonomicheskaya Politika / Economic Policy, 2009, vol. 4, 200-206

Abstract: One of the main arguments of Rizzo is that the notion of efficiency has no meaning outside the context of pursuit of specific objectives. But he makes too many concessions, arguing that "of course, it [common law] is efficient" in relation to the achievement of certain goals. In fact, on several levels there are serious differences regarding the very concept of efficiency in the application of social institutions or facilities.

Keywords: efficiency; Rizzo (search for similar items in EconPapers)
Date: 2009
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