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Myth of efficiency

Author

Listed:
  • Rothbard, Murray

    ("Classics of economy" series)

Abstract

One of the main arguments of Rizzo is that the notion of efficiency has no meaning outside the context of pursuit of specific objectives. But he makes too many concessions, arguing that "of course, it [common law] is efficient" in relation to the achievement of certain goals. In fact, on several levels there are serious differences regarding the very concept of efficiency in the application of social institutions or facilities.

Suggested Citation

  • Rothbard, Murray, 2009. "Myth of efficiency," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 200-206, August.
    • Handle: RePEc:rnp:ecopol:0946
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    File URL: https://repec.ranepa.ru/rnp/ecopol/0946.pdf
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    Cited by:

    1. Glenn Furton & Adam Martin, 2019. "Beyond market failure and government failure," Public Choice, Springer, vol. 178(1), pages 197-216, January.

    More about this item

    Keywords

    efficiency; Rizzo;

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