what is more important equity or efficiency 
both are important though they cannot always be achieved simultaneously most economies generally strive to get the maximum benefits from the resources at their disposal which seems like a no brainer the issue is making sure those benefits are distributed fairly among all people in society it s tricky to keep everyone happy and opinions vary about which of the two equity or efficiency should take precedence assuming of course that they cannot co exist harmoniously can equity and efficiency be achieved simultaneously it is a common assumption that greater equity comes at a cost of less economic efficiency that isn t necessarily the case though for example the nordic model a set of economic standards loosely followed by sweden norway finland denmark and iceland has given the world an example of how free market capitalism and a generous welfare system can co exist harmoniously such a system works mainly because these countries have a culture of collectivity and taxpayers money is spent in a way that benefits all 2