kenneth arrow

Kenneth Joseph Arrow (born August 23, 1921) is an American economist and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972. To date, he is the youngest person to receive this award, at 51. In economics, he is considered as one of the founders of modern (i.e. post-World War II) neo-classical economic theory. Many of his former graduate students have gone on to win the Nobel Memorial Prize themselves. Ken Arrow’s impact on the economics profession has been tremendous. For more than fifty years he has been one of the most listened to of all practicing economists. His most significant works are his contributions to social choice theory, notably “Arrow’s impossibility theorem”, and his work on general equilibrium analysis. He has also provided foundational work in many other areas of economics, including endogenous growth theory and the economics of information.