I was a very polite person, though. Paul Samuelson tells these stories how he used to correct his professors. I assume that’s true. But I wasn’t that… - Kenneth Arrow

In an ideal socialist economy, the reward for invention would be completely separated from any charge to the users of information. In a free enterprise economy, inventive activity is supported by using the invention to create property rights; precisely to the extent that it is successful, there is an underutilization of the information.

As indicated, I retain the view that the outcome should be an ordering. Presumably, the weakest possible outcome of a constitution would be a choice function, a mapping of each feasible set of alternatives into a chosen subset. Again, one cannot avoid some consistency relations among the choices from different feasible sets. Various conditions weaker than a full ordering have been proposed, but, in my judgement, they do not lead to interesting conclusions. Unless they are implausibly weak, these conditions do not lead to noticeably greater freedom in the selection of social choice procedures.

The concept of rationality used throughout this study is at the heart of modern economic analysis, and it cannot be denied that it has great intuitive appeal; but closer analysis reveals difficulties.