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"It's for economic efficiency -- the budget is the last consideration," he said.
They began by acknowledging that "the most basic condition for economic efficiency: [is] that price equal marginal cost", and further conceded that "with information goods the social marginal cost of distribution is close to zero".
And they are willing to risk higher unemployment and instability in the short term for economic efficiency and growth in the long run, as they see few other ways".
For instance, shifting resources from housing benefit into "bricks and mortar", building more homes for social rent rather than subsiding private landlords, is a win-win for economic efficiency and social justice.
They realised the trap this put them in, recognising that "natural monopoly does not meet the most basic condition for economic efficiency: that price equal marginal cost" but nonetheless concluded that in the new economic era, this might be the only practical way to proceed.
The author interviewed a number of Romney's former colleagues, describing how they emerged from the nineteen-seventies world of management consulting — Bain Capital was an offshoot of the consulting firm Bain & Co. — and how they viewed themselves as crusaders for economic efficiency.
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"I am all for privatization for reasons of economic efficiency, competition and so forth," Mr. Hatzinikolaou said.
However, a basic agreement states that the ultimate solution for problems of economic efficiency and order lies in market culture, which incorporates the interests of market participants and is compatible with the market field.
The long-serving chief minister of Gujarat has always had a core of passionate supporters for his mix of economic efficiency and hardline Hindu nationalism, and because he gets things done, an increasing number of voters see him as the saviour of India's struggling economy (see article).
Fernando Dougnac, an environmental lawyer in Santiago, said that balance was particularly difficult because the "market can regulate for more economic efficiency, but not for more social-economic efficiency".
This paper reviews different methods for ensuring economic efficiency when devising tariffs for distribution network services while meeting the revenue constraint.1 There is a long tradition in welfare economics which suggests that prices should be based on long run marginal costs to achieve economic efficiency.
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for economic policy
for economic benefit
for economic viability
for economical efficiency
for business efficiency
for cost efficiency
for economic benefits
for long term efficiency
for economic savings
for economic health
for economic progress
for mechanical efficiency
for economic leadership
for optimum efficiency
for maximum efficiency
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com