|Mause I 54f
Efficiency/Neoclassical Theory: A situation is called pareto-optimal in which no individual can be better off without another individual being worse off; the terms "pareto-optimal" and "efficient" are used synonymously in the total analysis. This pareto optimum is the content of the first main clause of welfare economics. Ultimately, this result is the basis for the neoclassical justification of the performance or superiority of the market economy.
Problem: the conditions necessary for equilibrium are never fulfilled in reality._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018