Skip to content

Government economic policy, like almost any realistic decision problem, has two fundamental characteristics: it is sequential and it is uncertain.

— Kenneth Arrow

Another quote →

Topics

Government

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)

All Kenneth Arrow quotes →

You may also like

Ill can he rule the great, that cannot reach the small.

Edmund Spenser The Faerie Queene (1589)

The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse.

James Madison

Bureaucracy and social harmony are inversely proportional to each other.

Leon Trotsky The Revolution Betrayed (1936)

There is danger from all men. The only maxim of a free government ought to be to trust no man living with power to endanger the public liberty.

John Adams

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.