Re:Rotterdam bridge to be dismantled for Oceanco's 127m sail...
by throw0101a on Wednesday February 02, 2022 @09:17AM
(#30177841)
> Isn't 95% of every resource use "sub-optimal"?
Depends:
> If we suppose that the goal of society is to produce the greatest utility, and that the utility wealth provides an individual is sub-linear (i.e. twice as much money makes you less than twice as happy), then inequality is inefficient resource allocation.
> However, we also suppose that some level of inequality can lead to greater productivity, and thus greater utility overall. The question is then what level produces the best outcome?
Depends:
> If we suppose that the goal of society is to produce the greatest utility, and that the utility wealth provides an individual is sub-linear (i.e. twice as much money makes you less than twice as happy), then inequality is inefficient resource allocation.
> However, we also suppose that some level of inequality can lead to greater productivity, and thus greater utility overall. The question is then what level produces the best outcome?
* https://news.ycombinator.com/item?id=14505342
At want point is the cut-off in the diminishing returns of utility/happiness?