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Exploitation and Efficiency

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  • Elias L. Khalil

    (Monash University)

Abstract

Let us take any historical or contemporary economic society. Would economic efficiency become better if such society erects and enforces institutions that prohibit its members from the exploitation of excludable groups that can be defined by race, ethnicity, etc.? This question actually makes no sense. One must first identity the boundary of society, i.e., who make up the objective function. Irrespective of how one defines efficiency, one cannot assess the efficiency of institutions without determining who is covered and who is excluded. Efficiency judgments can make sense only when one defines the social boundary.

Suggested Citation

  • Elias L. Khalil, 2017. "Exploitation and Efficiency," The Review of Black Political Economy, Springer;National Economic Association, vol. 44(3), pages 363-377, December.
    • Handle: RePEc:spr:blkpoe:v:44:y:2017:i:3:d:10.1007_s12114-017-9263-z
    DOI: 10.1007/s12114-017-9263-z
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    References listed on IDEAS

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    More about this item

    Keywords

    Hicks-Kaldor Welfare Criterion; Injustice; Collective Welfare Function; Altruism; Radical Social Theory; Inter-society Utility Comparison; Externality vs. Pecuniary Externality;
    All these keywords.

    JEL classification:

    • N00 - Economic History - - General - - - General
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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