Efficiency maximization benefits society from "summary" of The Antitrust Paradox by Robert Bork
Efficiency maximization benefits society by ensuring that resources are utilized in the most effective manner possible. When businesses are able to operate efficiently, they are better equipped to meet consumer demand and provide goods and services at lower prices. This leads to increased consumer welfare as individuals are able to purchase more with their limited income.
In a competitive marketplace, firms are incentivized to continuously improve their efficiency in order to stay ahead of their rivals. This drive for efficiency leads to innovation and technological advancements that benefit society as a whole. For example, firms may invest in research and development to create new products or improve existin...
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