My Econ 490 Blog

My experience with organizations lie with my membership with my fraternity. The fraternity has a hierarchical structure both within out chapter in the University as well as on the national level. At the top of the school level is the alumni board of directors who own the chapter house and whom the officers of the fraternity report to. Below the alumni board is the executive committee which includes the president, treasurer and other executive members. These people are in charge of the members of the chapter. This is the hierarchy that is present in the University. However, both the executive committee and the alumni board both report to the national organization of the chapter. The national chapter personnel are in charge of the charter of the chapter. The charter is what makes a fraternity a Greek organization, it is basically a sponsorship. While this type of organization is fairly common, but the organization is dependent on every member taking part and doing their job. The  c...

Kenneth Joseph Arrow Arrow was born on 23 August 1921, in  New York City .  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.  He earned a Bachelor's degree from the City College of New York in 1940 in mathematics . He attended Columbia University , for his graduate studies. While there, he studied under Harold Hotelling, and was greatly influenced by him.  He received a Master's degree in 1941.  He served as a weather officer in the United States Army Air Forces from 1942–1946 . I was not familiar  with Ken Arrow until he was assigned as my alias, but after learning about him, Arrow has some great theorems and was a world renowned  economist. He is best known for his impossibility theorem. H e theorized that it was impossible to formulate a social preference ordering.  In short, the theorem states that no rank-order e...