Learning Is The First Step
This article contains technical meta-guidance based on my personal experience. I haven’t seen scholarly research for or against this guidance, but I would expect it to move in the same direction. This guidance is meant to be leveraged in general as a default best practice, but there may be times where exceptions are justified. The … Read more
This article discusses notions of economic efficiency, notes a main one employed by applied economists to be Kaldor-Hicks efficiency, and discusses a few issues with that concept. Here are some kinds of economic efficiency: Pareto efficiency – loved by theorists but not feasible It means a move which improves utility of at least one agent … Read more
This article anecdotally rants about how libertarians, economists, and others pay lots of attention to utilitarian efficiency and very little to technical efficiency. Refresher: Technical efficiency means that a given level of output is produced using the least-cost set of inputs. Economics has strong evidence for the astonishing claim that competitive economies will produce with … Read more