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  1. #1
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    Oct 2008
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    What is the Association of Efficiency with Moralit

    What is the Association of Efficiency with Morality?

    The principle of efficiency is an important concept that we hear about primarily when we hear that “the market is efficient”. I think that in terms of the stock market this implies that there exists transparency and everyone has the same information. In the matter of morality it is often used to illuminate the concept of distribution as it relates to matters of justice.

    The web site http://oak.cats.ohiou.edu/~piccard/entropy/rawls.html provides an outline of John Rawls book “A Theory of Justice”. In this outline the author provides this account of the meaning of “The Principle of Efficiency”:

    “Rawls adopts the concept of efficiency that is associated with the name Pareto in the field of economics. It is perhaps most easily described in the negative:
    No system can be called efficient if there is an alternative arrangement that improves the situation of some people with no worsening of the situation of any of the other people.
    In general, there are many arrangements that are efficient in this sense. Not all of them are equally just; other principles of justice must be invoked to select the most just arrangement.”

    A graph is the best way to visualize the meaning of this concept. Imagine a standard two dimensional X-Y graph with X being left to right and Y being the vertical axis. Draw a convex line connecting equal length on both axis. The line represents the distribution of commodities in an efficient market. X and Y share in the commodities as shown by this line. If X gains Y loses and vise versa.

    Efficiency is considered to be an instrumental matter and is an objective determination based on reasoned consideration without subjective bias. Any point on this line is a point of maximum efficiency; it is the best that is possible based on objective parameters alone.

    Human rationality is very good at developing the most efficient way to accomplish a given task. Our technology is one example of our capacity to accomplish instrumental matters, i.e. matters concerning the most efficient means for reaching a proscribed end.

    On the other hand we are very weak at determining matters requiring communicative rationality. Communicative rationality is that rationality focused on subjective considerations when human values are involved rather than concrete objects. We are good at developing the best means for an end but we are not so good for determining the end to be sought. The determining of ends, i.e. values is where morality enters into the equation.

    On our imagined graph anything on the efficient line is best if efficiency is the only parameter of consideration. If other parameters are important then the area onto which the point of distribution occurs is southwest of the maximum efficiency line.

    A theory of justice is required for us to understand how to pick that point SW of efficiency. The SW point is dependent upon our set of values and how well we understand such matters and how much we care about such matters.


  2. #2
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    Re: What is the Association of Efficiency with Mor


  3. #3
    Join Date
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    Re: What is the Association of Efficiency with Mor

    Free enterprise is the most efficient and most moral allocation because it allows for the generation of diversity.

    If any single power controls the issuance or distribution of wealth, then there will be a tendency toward the expansion of one goal at the expense of another.

    That is the basic concept behind entropy. Since energy can neither be created nor destroyed, using energy in one are for greater organization creates chaos in related areas. The more energy used for one goal, the more energy required from other areas to achieve that goal.

    The more efficient you are without regard to diversity, the more accelerated the entropy.

    TRhe same is true of a centralized banking system that controls the issuance of money. If everyone within the system is dependent on the operation and issuance of a centralized control, then everyone suffers if the control makes wrong decisions, as we see all around us now.

    A theory of justice would not be built around a mathematical model, since the mathematical model will always be incomplete and cannot "decide" all possible options within the distribution of wealth.

    Limitations of mathematics in regard to the truth of the matter exists within Godel's theorem, which states that in any consistent axiomatic formulation of number theory of sufficient complexity, there exists undecideable propositions.

    Given sufficient complexity, therefore, we cannot achieve a theory of justice by any rational, finite, mechanical process.

    Free enterprise remains as the solution both morally and in terms of efficiency.

  4. #4
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    Sep 2004
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    26,339

    Re: What is the Association of Efficiency with Mor

    Quote Originally Posted by doojie View Post
    Free enterprise is the most efficient and most moral allocation because it allows for the generation of diversity.

    If any single power controls the issuance or distribution of wealth, then there will be a tendency toward the expansion of one goal at the expense of another.

    That is the basic concept behind entropy. Since energy can neither be created nor destroyed, using energy in one are for greater organization creates chaos in related areas. The more energy used for one goal, the more energy required from other areas to achieve that goal.

    The more efficient you are without regard to diversity, the more accelerated the entropy.

    TRhe same is true of a centralized banking system that controls the issuance of money. If everyone within the system is dependent on the operation and issuance of a centralized control, then everyone suffers if the control makes wrong decisions, as we see all around us now.

    A theory of justice would not be built around a mathematical model, since the mathematical model will always be incomplete and cannot "decide" all possible options within the distribution of wealth.

    Limitations of mathematics in regard to the truth of the matter exists within Godel's theorem, which states that in any consistent axiomatic formulation of number theory of sufficient complexity, there exists undecideable propositions.

    Given sufficient complexity, therefore, we cannot achieve a theory of justice by any rational, finite, mechanical process.

    Free enterprise remains as the solution both morally and in terms of efficiency.
    isn't this a case for naked/unimpeded evolution? the wild wild west? why was there a implementation of controls? who demanded it? :spin2:
    i do not endorse/recommend any advertising on scam.com associated with my name /posts or otherwise. thank you

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