Machiavelli’s Possibility Hypothesis
Year: 2010 Volume: 4 Issue: 1 Pages: 18-31
Abstract: This paper discusses the thesis that in Arrow’s Possibility Theorem the dictator (merely) serves as a solution to the logical problem of aggregating preference while Machiavelli’s dictator, the Prince, has the historical function to bring order into a world of chaos and thus make society ready for the implementation of a republican structure.
JEL classification: B00, B3, B4
Keywords: Dictator, aggregation of preferences, republic, democracy
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