Kenneth Arrow Quotes:
Ocupation: Economist
Life: b. August 23, 1921
Birthday: August 23
From the time I first understood economic principles, I was always concerned also that any system be operated on an efficient basis, which meant decentralization because knowledge is not concentrated anywhere. It's based on motivation, and so these are the advantages of, say, the cautious case for capitalism, that the market system is efficient.
source: Source: www.minneapolisfed.org
topic: Motivation, Firsts, Principles, Decentralization
