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The theory that efficiency operates in two modes: absolute efficiency (efficient by any measure, in any context, for any purpose) and relative efficiency (efficient within a framework, by certain standards, for certain interests). The Theory of Absolute and Relative Efficiency argues that true absolute efficiency is rare—perhaps nonexistent. Most efficiency is relative: efficient for some purposes, not others; by some measures, not others; in some contexts, not others. The theory calls for distinguishing between the two, for not mistaking relative efficiency for absolute, for recognizing that "efficient" always begs the question: by what standard, for whom, at what cost?
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