Explaining Kenneth Arrow’s Impossibility Theorem for Social Choice

Tags: Other Schools of Thought, Democracy

12/05/2020 Robert P. Murphy

First Bob explains his contest involving Adventures in Pacifism–winner gets 100 smackers. Then he explains the incredibly powerful, and surprisingly Austrian, result by which Kenneth Arrow showed it was impossible to coherently aggregate individual preferences into a social ranking.

Mentioned in the Episode and Other Links of Interest:

The blog post explaining the rules for the contest, Adventures in Pacifism: Louie CK Edition
Bob’s link for those interested in joining Liberty Classroom. (If you use this link, the site will remember who sent you if you end up joining.)
Bob’s mises.org’s article explaining Arrow’s Theorem in the context of the 2020 election
The Bob Murphy Show ep. 7, explaining Godel’s Incompleteness Theorems

For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

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