Editing Liberal paradox (section)

===Use in economics===
Pareto efficiency is often used in economics as a minimal sense of [[economic efficiency]]. If a mechanism does not result in Pareto-efficient outcomes, it is regarded as inefficient, since there was another outcome that could have made some people better off without harming anyone else.

The view that [[Market (economics)|markets]] produce Pareto-efficient outcomes is regarded as an important and central justification for [[capitalism]]. This result was established (with certain assumptions) in an area of study known as [[general equilibrium theory]] and is known as [[Fundamental theorems of welfare economics|the first fundamental theorem of welfare economics]]. As a result, these results often feature prominently in [[right-libertarian|conservative libertarian]] justifications of unregulated markets.