Arrow’s impossibility theorem – for academics

I’m reading John Cassidy’s remarkable book How Markets Fail (2009), which includes a brief aside on economist Kenneth Arrow‘s fundamental work on “‘social’ ordering” – the problem of “converting individual preferences over a set of [possibilities]…into a consistent ordering for society as a whole” (p. 62, in Cassidy’s paperback edition). To paraphrase Cassidy’s eloquent summary,…

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Continental divides

I had the opportunity during holiday time with family back in the States to bop around in the Sangre de Cristo Range, near the Spanish Peaks, in southern Colorado. If you count the Atlantic Ocean as one (kind of) continental divide (lowercase) west of the UK, we were atop the next one over (uppercase) –…

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