Influential American economist, writer, and political theorist (1921-2017) who received the Nobel Memorial Prize in Economic Sciences in 1972. Typed manuscript of his article "Optimal and Voluntary Income Distribution," signed at the head, "With best wishes, Kenneth J. Arrow," 8.5 x 11, 30 pages, published in the 1981 work Economic Welfare and the Economics of Soviet Socialism: Essays in honor of Abram Bergson. In part: "The concept of the social welfare function was introduced by Bergson in his classic paper (1938) to express preferences over resource allocations to all individuals in society. Just as the commodity bundles of an individual are supposed to be compared by his or her individual preference ordering, so the alternative allocations of commodity bundles to all individuals can be ordered by a social welfare ordering over this entire space." The draft of the essay boasts several typed and handwritten corrections throughout. In fine condition.
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