Now virtue may not always be its own reward, but in any case it is not usually bought and paid for at market rates.
Kenneth ArrowI think that systems that are based on employment are illogical and attempts to meet them create all sorts of unnecessary complexities.
Kenneth ArrowSome people say Russia is running at 50 percent of its gross domestic product under that during the Communist period. In fact, none of the countries seems to have recovered the level that they had under communism, although the other countries in Eastern Europe are doing better than Russia and particularly the Czech Republic seems to be doing modestly well. East Germany I can't count because they have a rich uncle. You have economic benefits which have nothing to do with the workings of the system.
Kenneth ArrowI think one of the things we learned from the physicists and also the theoretical biologists is the idea that when you're dealing with very complex systems you're going to get a large variety of behavior which can be interpreted as hill climbing, but hill climbing with a lot of modifications, hill climbing with big jumps occasionally.
Kenneth Arrow