Who was Kenneth Arrow: His Theorem, Legacy
Kenneth Arrow was an influential neoclassical economist known for his wide-ranging contributions to microeconomic and macroeconomic theory. His research in areas such as general equilibrium analysis, welfare economics, social choice theory, and the learning curve has had a lasting impact on economic thought. Arrow's most notable contribution is his General Impossibility Theorem, which demonstrated the challenges of achieving fair election results when more than two candidates are involved. His work has provided insights into the complexities of competitive markets and has contributed to the development of theories on endogenous growth and economic innovation.
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