This man cited improved efficiency of airframe production and the Horndal iron works in an article outlining his "learning by doing" growth model.
This man cited improved efficiency of airframe production and the Horndal iron works in an article outlining his "learning by doing" growth model. This man proved an equilibrium would exist in a perfectly competitive economy. That general equilibrium model is named for him and Gerard Debreu. He argued lack of information and moral hazard made health care especially prone to market failure in "Uncertainty and the Welfare Economics of Medical Care." Another theorem by this man shows there will always exist a decisive (*) voter with dictatorial powers under conditions like unanimity and independence of irrelevant alternatives. For 10 points, name this economist who showed the difficulty of a democratic social welfare function in his impossibility theorem.
This man cited improved efficiency of airframe production and the Horndal iron works in an article outlining his "learning by doing" growth model.
Kenneth Arrow