Efficiency is something almost everyone strives for in some aspect of their life. Think about different tasks you try to become more efficient at. Here’s an everyday example of efficiency.

It's an example of a case when historical patterns alone do not guarantee returns. For the average investor, weak form efficiency can serve as a guide for selecting investment strategies.

Over the years, I’ve written frequently about government efficiency and inefficiency. I even wrote a book that, among other things, measured types of efficiency across 38,000 local governments in the ...