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Efficiency is one of the features of Max Weber's theory of Rationalization. The other three are Predictability culpability and Control.
Efficiency's Webster's dictionary definition is effective operation as measured by a comparison of production with cost (as in energy, time, and money).
That definition applies here too. To "rationalize" things, you must find the most efficient way to do them. Efficient meaning fastest, most productive, the best way to do one job.
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