Kenneth Arrow
Kenneth Arrow
Kenneth Joseph "Ken" Arrowis an American economist, writer, and political theorist. He is the joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972. To date, he is the youngest person to have received this award, at 51...
NationalityAmerican
ProfessionEconomist
Date of Birth23 August 1921
CountryUnited States of America
teacher cost distribution
Knowledge is a free good. The biggest cost in its transmission is not in the production or distribution of knowledge, but in its assimilation. This is something that all teachers know.
demands driver economics forms general major parts securities statement taken various
The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles.