What I'm edging towards here is a point made (pdf) - in a different context - by Amartya Sen, that Pareto optimality isn't as great an ideal as economists think.If you can't abolish slavery without making slave-owners worse off, then slavery is Pareto optimal.Stumbling and Mumbling
Jungles, Matches & Optimality
Chris Dillow | Investors Chronicle (UK)
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