"Equality and Efficiency"

Paper Summary:

This paper analyzes Arthur Okun's book, "Equality and Efficiency," which conceptually discusses the roots of equality and efficiency in the economic domain of human society. It describes the 'loopholes' in Okun's arguments and cites passages and paraphrased discussions in the book to illustrate the points. The paper posits that Okun's assertions and arguments in supporting his analysis of the relationship between equality and efficiency are insufficient and ineffective because of the persistence of fallacies, lack of data support and questionable conceptual and theoretical analyses.

From the Paper:

"One of the most evident faults in his discussion and analysis of the relationship between equality and efficiency was his consistent avoidance of delving into the theoretical and conceptual roots of the issues surrounding the inefficiency problem. In Chapter 1, theoretical issues were left unanswered, wherein the author argued that these theoretical issues will not be covered or will not be the focus of his analysis. These issues included a 'survey' of the socio-demographic environment that may be considered as main factors or determinants of inefficiency and inequality in human society. Embedded in this faulty analysis is the fallacy of wishful thinking, wherein Okun stated how his purposeful choice to leave theoretical issues not discussed "merely reflects my choices, and I hope they are accepted as reasonably rational" (3)."

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