Ken Arrow

Kenneth Arrow was a renowned economist famous for his work on the measurement of social welfare and decision-making under uncertainty. He developed a foundational theorem explaining why a universally accepted social choice or voting system is impossible when individual preferences are considered fairly. Arrow's insights helped clarify the challenges in creating fair and consistent collective decisions, influencing economics, political science, and philosophy. His work emphasizes that designing a perfect voting or social decision process is inherently difficult due to conflicting individual preferences and logical constraints, highlighting the complexity of collective choice and fairness.