Alternative criteria for economic efficiency based on Pareto efficiency ... it may not maximize overall social welfare or leave certain negatively impacted parties feeling worse off.

China trade war and reminiscent of the 1930 Smoot-Hawley Act, threaten global economic welfare by reducing trade volume and ...

Efficiency promotes economic growth and overall prosperity ... equity-versus-efficiency tradeoff that economists often debate. Welfare transfers that provide a “hand up” can improve efficiency ...