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Once individuals are acting to carry out a norm and cannot be fully checked, their natural norm of self-interest will come into play. The rules actually acted upon will therefore move away from any norm that might be acceptable on the basis of general principles.

— Kenneth Arrow

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More quotes by Kenneth Arrow

Perhaps as important is the relation between the existence of solutions to a competitive equilibrium and the problems of normative or welfare economics.

Collective action is a means of power, a means by which individuals can more fully realize their individual values.

The Limits Of Organization (1974)

As is by now well known, attempts to form social judgments by aggregating individual expressed preferences always lead to the possibility of paradox.

The Limits Of Organization (1974)

The aim of achieving an equal distribution of political power requires a restriction on the inequalities of wealth and income.

The purpose of organizations is to exploit the fact that many (virtually all) decisions require the participation of many individuals for their effectiveness.

The Limits Of Organization (1974)

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Attribution

Quote text and notes from Wikiquote: Kenneth Arrow (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.