Krugman's whole attack is directed at a statement made neither by Arthur nor by Cassidy. Krugman has not read Cassidy's piece with any care nor has h… - Kenneth Arrow

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Krugman's whole attack is directed at a statement made neither by Arthur nor by Cassidy. Krugman has not read Cassidy's piece with any care nor has he bothered to review what Arthur has in fact said.

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About Kenneth Arrow

Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, who was Professor Emeritus of Economics in Stanford, and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972.

Also Known As

Birth Name: Kenneth Joseph Arrow
Alternative Names: Kenneth J. Arrow Ken Arrow

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Gibbard's work was a bombshell. That was very exciting. I didn't know about Satterthwaite's work for a couple of years, but it was very much the same thing. I had taken the liberty of abstracting from manipulability in my thesis and I never went back to that issue. What's surprising is not really that there is an impossibility of non-manipulability, but that the issues should be essentially the same. That strikes one as a remarkable coincidence.

Let us turn from the epistemological problems of the current decision-maker for society to those in the original position. Individuals are supposed to know the laws of the physical and the social worlds, but not to know who they are or will be. But empirical knowledge is after all uncertain, and even in the original position individuals may disagree about the facts and laws of the universe.

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There are many other organizations beside the government and the firm. But all of them, whether political party or revolutionary movement, university or church, share the common characteristics of the need for collective action and the allocation of resources through nonmarket methods.

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