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Arrow’s Impossibility Theorem Exposes a Big Problem with Democracy

Audio Mises Wire
11/02/2020Robert P. Murphy

Kenneth Arrow showed in 1951 that the entire project of social choice theory rested on quicksand.

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Original Article: "Arrow’s Impossibility Theorem Exposes a Big Problem with Democracy".

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Contact Robert P. Murphy

Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Bob Murphy Show.