"Arrow’s Impossibility Theorem is quite surprising. It shows that three very plausible and desirable features of a social decision mechanism are inconsistent with democracy: there is no “perfect” way to make social decisions. There is no perfect way to “aggregate” individual preferences to make one social preference. If we want to find a way to aggregate individual preferences to form social preferences, we will have to give up one of the properties of a social decision mechanism described in Arrow’s theorem."
React to this quote
More by Hal Varian
See allResonant Thoughts
"Beginning a book is unpleasant. I'm entirely uncertain about the character and the predicament, and a character in his predicament is what I have to begin with. Worse than not knowing your subject is …"
Explore Further
Related Quotes
"The number of votes which elect a ruler is not a measure of his legitimacy but of his mediocrity."
— Nicolás Gómez Dávila"America does not go abroad in search of monsters to destroy."
— John Quincy Adams"Corruption of politics has nothing to do with the morals, or the laxity of morals, of various political per…"
— Emma Goldman"The sacrifices of our people were very great. Out of a population of one million, 28,000 were killed, 12,60…"
— Enver Hoxha"represented the only strong anti-imperalist political position. Anti-imperialist? Republicans? Uh-huh. …"
— Jeff Riggenbach"We had affirmative action programs to help women help themselves economically. Is it now time for affirmati…"
— Warren Farrell
Related Thinkers
Related Topics
Deep Dives
- David Cay Johnston on politics
- Bernard Lietaer on politics
- Hirohito on politics
- Robin Hahnel on politics
- David Cay Johnston on time
- David Cay Johnston on justice
- David Cay Johnston on life
- David Cay Johnston on knowledge
- David Cay Johnston on art
- David Cay Johnston on philosophy
- knowledge & Beauty
- knowledge & Change
