Origins & Early Life

Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, mathematician and political theorist. He received the John Bates Clark Medal in 1957, and the Nobel Memorial Prize in Economic Sciences in 1972, along with John Hicks. In economics, Arrow was a major figure in postwar neoclassical economic theory. Four of his students (Roger Myerson, Eric Maskin, John Harsanyi, and Michael Spence) went on to become Nobel laureates themselves.

Pivotal Works & Achievements

His contributions to social choice theory, notably his "impossibility theorem", and his work on general equilibrium analysis are significant. His work in many other areas of economics, including endogenous growth theory and the economics of information, was also foundational. Arrow was born on August 23, 1921, in New York City. Arrow's mother, Lilian (Greenberg), was from Iași, Romania, and his father, Harry Arrow, was from nearby Podu Iloaiei. The family was of Romanian-Jewish descent, and very supportive of Kenneth's education.

Enduring Legacy & Impact

Growing up during the Great Depression, he embraced socialism in his youth. He would later move away from socialism, but his views retained a left-leaning philosophy....

Contemporary Figures & Related Historical Timelines

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• 1921 Historical Timeline & Archive — Explore world events and figures from 1921
• August 23 (08-23) On This Day — Historical birthdays and events on August 23
• 2017 Historical Timeline & Archive — Explore world events and figures from 2017
• February 21 (02-21) On This Day — Historical events and memorials on February 21