Kenneth Arrow

Health is not a commodity; treating it as such leads to inequities.

Economic growth without equity is a hollow victory.

The theorem I proved was not meant to discourage, but to refine our thinking.

In asymmetric information, the uninformed party bears the brunt.

Public goods require collective action, lest they vanish.

Life's uncertainties make insurance not just economic, but existential.

Competition thrives on transparency; secrecy breeds inefficiency.

The beauty of economics is its ability to model the unmodelable.

Poverty is not just lack of money, but lack of opportunity.

Arrow's paradox: fair voting is impossible, yet we vote anyway.

In economics, assumptions are the scaffolding; reality tests the structure.

Medical care demands ethical considerations beyond market forces.

The future is uncertain; that's why we plan.

Social welfare functions are illusions we can't dispense with.

Inequality distorts not just distribution, but decision-making.

Risk is personal; society must pool it wisely.

Markets fail when information does.

Democracy is a noble experiment in collective irrationality.

The impossibility of perfect equity teaches us to strive for better.

Economics without ethics is blind.