Explaining Kenneth Arrow’s Impossibility Theorem for Social Choice
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
This post has been republished with permission from a publicly-available RSS feed found on Mises. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.