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The Victorian Waste Management Association told the Senate that the commingled bin was developed "to provide the simplest and most efficient mechanism" and cut down costs.
"Government is needed for many things but it's not necessarily the most efficient mechanism to fix a road, for example," he said.
Second, even if industry is important, it should not be promoted through industrial policy because the market is the most efficient mechanism to decide what should succeed and fail.
It is the most efficient mechanism for the redistribution of power and wealth, and it enables a genuinely egalitarian government to destroy the institutions of inequality and replace them with systems which unite rather than divide the nation.
"This U.S. equity market continues to be the most efficient mechanism for pricing in the world," Bill Baxter, the head of electronic trading for Fidelity Investments, said at the event on Thursday.
Other companies quickly noted Apple's success and produced rival devices, thereby driving down prices and widening their appeal to consumers.Friedrich Hayek argued that markets were the most efficient mechanism for allocating resources because they represented the individual decisions of millions of consumers and thousands of producers the wisdom of crowds, if you like.
Similar(34)
Return policy, by offering the retailer some reimbursements for the leftover products, is one of the most efficient mechanisms for channel coordination.
Matter falling onto a compact object is one of the most efficient mechanisms for releasing energy in the form of radiation, and matter falling onto black holes is thought to be responsible for some of the brightest astronomical phenomena imaginable.
Hydrochory per se is assumed to be one of the most efficient mechanisms for LDD in plants.
Efflux pumps from RND family are considered one of the most efficient mechanisms for tolerance to toxin in Gram-negative bacteria [ 23].
Feedback allosteric inhibition of metabolic enzymes is one of the most efficient mechanisms maintained through evolution for control of flux through biochemical pathways.
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