The difference between the Pareto and the Kaldor-Hicks standard of efficiency

Seminar paper from the year 2018 in the subject Politics - Political Theory and the History of Ideas Journal, grade: 1,3, University of Toronto (Munk School of Global Affairs and Public Policy), language: English, abstract: In this essay, I will first describe the Pareto and the Kaldor-Hicks standard of efficiency. I will then elaborate on the relationship and the differences between the two conce...