Comment on the Following: "The Second Welfare Theorem Says That

question 11

Essay

Comment on the following: "The second welfare theorem says that we can get any efficient allocation to be an equilibrium allocation.If endowments are inequitably distributed in an economy, we can therefore redistribute among people and still get an efficient outcome.As a result, there is no policy trade-off between equity and efficiency."

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Definitions:

Values

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Networked Cultures

Social and organizational cultures that are formed and operate through digital networks and communication technologies, facilitating global connections.

Trust

Confidence in the reliability, truth, ability, or strength of someone or something.

Communicate

The act of conveying information or expressing ideas and feelings through speech, writing, signals, or behavior to effectively share meanings.