"Pareto efficiency or Pareto optimality is a situation where no action or allocation is available that makes one individual better off without making another worse off". The beauty of economics is its attempt, no matter how imperfect, to understand the choices and trade offs that we need to make as decision makers for entire economies or even just ourselves. When we're firing on all cylinders and what to make a change to our lives - this often means sacrifice - this is what pareto efficiency is all about. Keep listening to find out how it's impacting you in your life and what you can do about it.