Any consequentialist approach to normative economics that uses standard indifference maps as social indifference maps (over utilities or consumption) will choose efficient outcomes in the first-best case.

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This statement is true. Consequentialism is a normative ethical theory that evaluates the rightness or wrongness of an action by its consequences. In normative economics, consequentialism implies that economic policies should be evaluated based on their outcomes. Standard indifference maps are graphical representations of people's preferences over different combinations of goods or services. Social indifference maps aggregate individual preferences into a single map that represents social preferences. If a consequentialist approach uses standard indifference maps as social indifference maps, it will choose the efficient outcome in the first-best case. The efficient outcome is the one that maximizes overall social welfare, given the available resources and technology. In other words, it is the outcome where no one can be made better off without making someone else worse off. Hence, a consequentialist approach that uses standard indifference maps as social indifference maps will favor efficiency over equity or other normative objectives.

Any Consequentialist Approach to Normative Economics That Uses Standard Indifference