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# Nirvana Fallacy
The [nirvana fallacy](https://en.wikipedia.org/wiki/Nirvana_fallacy)
also called the "perfect solution fallacy"
The [nirvana fallacy](https://en.wikipedia.org/wiki/Nirvana_fallacy),
also called the "perfect solution fallacy",
is the mistake made when a solution proposed to replace one existing
is judged against a hypothetical perfect solution
rather than the solution in current use.
> [!quote] Harold Demsetz "Information and Efficiency: Another Viewpoint" (1969)[^1]
> [!quote] [[demsetz_1969_information|Demsetz (1969)]]
> The view that now pervades much public policy economics
> implicitly presents the relevant choice
> as between an ideal norm and an existing "imperfect" institutional arrangement.
> This _nirvana_ approach differs considerably
> from a _comparative institution_ approach
> in which the relevant choice is between alternative real institutional arrangements.
[^1]: Harold Demsetz
"Information and Efficiency: Another Viewpoint"
_The Journal of Law and Economics_
Volume 12, Number 1
(April 1969)
[doi:10.1086/466657](https://doi.org/10.1086%2F466657)