The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity – the political allocation of wealth and opportunity – is not merely susceptible to corruption, it is corruption.”
est was developed from the beginning as a well-organized business enterprise, structured to maximize profits and minimize tax liabilities. Its major corporate arm, Transformational Technologies, is an extreme example of the rationality that pervades some such movements that have as a major goal the maximizing of profit. By 1988, it had trained nearly 400,000 people, all of whom had taken the two-weekend, 60-hour training session, paying a sizable fee ($400 per person) for so doing. est grossed some $30 million dollars in 1981, and it was claimed that one of every nine San Francisco Bay Area college-educated young people had gone through the training.
But once we bring historical time into the argument, it is not so easy to present the free play of the market as an ideal mechanism for maximizing welfare and securing social justice.joan robinson
Simplicity — the art of maximizing the amount of work not done — is essential.
Simplicity the art of maximizing the amount of work not done is essential.
A great deal of study has been directed to denning 'best decisions,' particularly since the pioneering work of mathematical statisticians (such as Wald), of mathematicians (such as von Neumann), of economists (such as Arrow )... The main effect of this development on the practice of OR has been the growing realization that there are decision objectives other than maximizing expected return and minimizing maximum loss. That is, in many practical situations there are criteria of optimality that are more appropriate than these two mentioned.
Both from these scanty data and from an examination of the postulates of the economic models it appears probable that, however adaptive the behavior of organisms in learning and choice situations, this adaptiveness falls far short of the ideal of ‘maximizing’ postulated in economic theory. Evidently, organisms adapt well enough to‘satisfice’; theydo not, in general, ‘optimize’.