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Kenneth Arrow

Kenneth Arrow Quotes

Economist

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Famous Kenneth Arrow Quotes

“Classic economic theories recognize public goods aspects of one kind or another - the need for economic intervention in, obviously, the supply of infrastructure and of education. We're not supplying that infrastructure at an appropriate rate today. I don't doubt it isn't just money; it's organization and goals and so forth.”

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“I do sense, as compared with let's say the early '50s, there's somewhat more of a careerism. I don't think it's anything special to economics; it's equally true with physics or biology. A graduate education has become a more career-oriented thing, and part of that is because of the need for funding. In fact, that's a much worse problem in the natural sciences than it is in economics. So you can't even do your work in the natural sciences, particularly, and even to some extent in economics, without funding.”

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“The Germans, for example, have some kind of compromise between single-member and broader districts. In Israel, you have nothing, you have only a national election. You have no local districts at all. And that's because of the idea that in addition to other ideological differences, locality matters. The question is does the congressman represent his district and the interests of his district? And as I said there's quite a variety of systems the democratic world. The implications need to be examined.”

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Author:Kenneth Arrow
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