50分,求高手翻译!Anothertradeoffsocietyfacesisbetweenefficiencyandequity.Efficiencymeansthatsocietyisgettingthemostitcanfromitsscarceresources.Equitymeansthatthebenefitsofthoseresourcesaredistributedfairlyamong

　　50分,求高手翻译!

　　Anothertradeoffsocietyfacesisbetweenefficiencyandequity.Efficiencymeansthatsocietyisgettingthemostitcanfromitsscarceresources.Equitymeansthatthebenefitsofthoseresourcesaredistributedfairlyamongsociety’smembers.Inotherwords,efficiencyreferstothesizeoftheeconomicpie,andequityreferstohowthepieisdivided.Often,whengovernmentpoliciesarebeing

　　designed,thesetwogoalsconflict.

　　Consider,forinstance,policiesaimedatachievingamoreequaldistributionofeconomicwell-being.Someofthesepolicies,suchasthewelfaresystemorunemploymentinsurance,trytohelpthosemembersofsocietywhoaremostinneed.Others,suchastheindividualincometax,askthefinanciallysuccessfultocontributemorethanotherstosupportthegovernment.Althoughthesepolicieshave

　　thebenefitofachievinggreaterequity,theyhaveacostintermsofreducedefficiency.

　　Whenthegovernmentredistributesincomefromtherichtothepoor,itreducestherewardforworkinghard;asaresult,peopleworklessandproducefewergoodsandservices.Inotherwords,whenthegovernmenttriestocuttheeconomicpieintomoreequalslices,thepiegetssmaller.

　　Recognizingthatpeoplefacetradeoffsdoesnotbyitselftelluswhatdecisionstheywillorshouldmake.Astudentshouldnotabandonthestudyofpsychologyjustbecausedoingsowouldincreasethetimeavailableforthestudyofeconomics.

　　Societyshouldnotstopprotectingtheenvironmentjustbecauseenvironmentalregulationsreduceourmaterialstandardofliving.Thepoorshouldnotbeignoredjustbecausehelpingthemdistortsworkincentives.Nonetheless,acknowledginglife’stradeoffsisimportantbecausepeoplearelikelytomakegooddecisionsonlyiftheyunderstandtheoptionsthattheyhaveavailable.