this post was submitted on 20 Aug 2023
1046 points (81.1% liked)

Memes

45887 readers
1245 users here now

Rules:

  1. Be civil and nice.
  2. Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 21 points 1 year ago* (last edited 1 year ago) (3 children)

The Pareto principle is an economics idea - something is considered Pareto efficient if you can make someone better off without making someone else worse off, and you are at a Pareto optimum when you can't make anyone better off without making someone worse off. Of course, because "better off" and "worse off" are entirely up for interpretation, people argue that taxing the rich to improve the lives of the poor is not Pareto efficient because you're worse off if you have less money regardless of how much money you have left. So the only Pareto efficient solution is to grow the economy until all the poor people make enough money.

[–] [email protected] 43 points 1 year ago

So the only Pareto efficient solution is to grow the economy until all the poor people make enough money.

Boy is that some head stuck up their own ass economist shit.

[–] [email protected] 23 points 1 year ago (1 children)

That's really dumb. the end result is literally identical, because money would have to be worth less afterwards for the math to work.

[–] [email protected] 19 points 1 year ago

Yeah, it's not what I'd describe as a serious attempt at problem solving.