The Liberal Paradox, formulated by economist Amartya Sen, highlights a conflict between individual freedoms and collective societal welfare within the context of liberalism. It addresses the tension between two fundamental principles: 1. **Individual Liberty**: The notion that individuals should have the freedom to pursue their own interests and make choices without coercion. 2. **Pareto Efficiency**: The idea that a situation is Pareto efficient if no individual's situation can be improved without worsening someone else's situation.
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