Applied broadly, investors can use the M2 technique to select funds that are efficient risk-takers.
By trial and error, the ancients discovered substances like animal fats and vegetable and mineral oils that are efficient lubricants.
Those that are efficient will earn more autonomy, while those with lax controls will face more scrutiny from the centre.
Granted, there are some corporate flight departments that are efficient and cost-effective, but they are few and far between.
But we've seen that if you have systems that are efficient, people are willing to change their mode of transport".
The rise of the cellphone as phone book simply "shows people are flexible and are responsive to their environment in ways that are efficient," Dr. Katz said.
For example, animals that can run quickly and especially those that are efficient over long distances have a short thigh, but long foot, so we can make some reasonable deductions about how they moved from this.
"The key is, can we do things that are cost effective, that are efficient, that save the towns and cities from duplicating services?" Local governments and school districts have already begun tightening their belts.
"The continent will have to develop its own unique set of business models for digital service delivery that are efficient given lower income levels and continued limintations in infrastructure," she adds.
Copper-nickel alloys, carbon steel and other compounds that are efficient in transferring heat, and are thus necessary elements of many processing and climate-control systems, are also the first to corrode when water hits them.
I think the biggest challenge by far is the need to make choices that are efficient or, to use a word that has come up a lot recently, parsimonious.
