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Simple English definitions for legal terms

Pareto optimality

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A quick definition of Pareto optimality:

Pareto optimality is a situation in economics where nobody can be made better off without making someone else worse off. This means that if we try to improve one person's situation, it will come at the expense of another person's situation. The term comes from an Italian economist and sociologist named Vilfredo Pareto.

A more thorough explanation:

Pareto optimality is an economic concept that refers to a situation where no individual can be made better off without making someone else worse off. This means that any change that benefits one person must come at the expense of another person.

The term comes from the work of Vilfredo Pareto, an Italian economist and sociologist who studied the distribution of wealth and income in society.

One example of Pareto optimality is the distribution of resources in a society. If a government decides to allocate more resources to one group of people, it may come at the expense of another group. For example, if a government decides to increase funding for education, it may have to cut funding for other programs like healthcare or infrastructure.

Another example is the labor market. If an employer decides to increase wages for one group of workers, it may have to lay off other workers or cut back on benefits to maintain profitability.

These examples illustrate the concept of Pareto optimality because any change that benefits one group of people must come at the expense of another group. In other words, there is no way to make everyone better off without making someone worse off.

pares regni | Pareto superiority

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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