Arrow's Impossibility Theorem States That the Majority Rule Fails to Produce

question 144

True/False

Arrow's impossibility theorem states that the majority rule fails to produce transitive preferences for society.

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Definitions:

Revolutionary Union

A labor union that seeks radical change in society and the economy, often advocating for the overthrow of existing class structures.

Industrial Workers of the World

An international labor union founded in 1905, also known as the Wobblies, aimed at unifying workers in a global struggle for socialism.

Knights of Labor

An influential labor organization in the late 19th century in the United States that aimed to protect and fight for workers' rights.

Skilled Craftsmen

Workers who have specialized in a particular trade or craft through extensive training and experience.