Profiles

The concepts of Pareto optimality and Pareto- optimal change continue appearing in academic discussions as supposed criteria of policy and keys to a positive science of political economy. Much has been said against this idea, but the criticisms have been partial and scattered. The present paper...

Volume 3, Number 3 (Summer 1982) John B. Egger and Leland B. Yeager review William H. Hutt's book, The Keynesian Episode .

Relative to what is democracy "efficient"? Wittman does not say.

People are fundamentally the same in government as in private life.

Financial success in some broad or narrow market niche has no deeper philosophical significance; in itself, it is no further sign of excellence or virtue. Market success does not prove that the tastes catered to, the goods and services provided, or the providers themselves are admirable.