[lbo-talk] neocon economists

[Gar Lipow]

On Sun, 20 Apr 2003 17:56:33 -0700 (PDT)
andie nachgeborenen <andie_nachgeborenen at yahoo.com>
wrote:
> 
>Arrow proved that no mechnaism for aggregating preferences (like a voting system) can meet a handful of simple, obvious, and apparently necesasry conditions for ratioanlity and democracy: nondictatorship, independence of irrelevant alternatives, consistency, and independence of order of presentation of alternatives. There's no "game" involved, although Arrow's results certainly suggest games that legislators can (and do) play.  jks

It is important to note that this theorem applies to ALL mechansisms for 
aggregating preferences - including markets.