Originally published in 1951, "Social Choice and Individual Values" introduced "Arrow's Impossibility Theorem" and founded the field of social choice theory in economics and political science. This new edition, including a new preface by the author and a new foreword by Nobel laureate Eric Maskin, reintroduces Arrow's seminal book to a new generation of students and researchers.

Kenneth Arrow is professor of economics emeritus, Stanford University, and a Nobel laureate. Eric Maskin is Albert O. Hirschman Professor, School of Social Science, Institute of Advanced Study, Princeton, NJ, and a Nobel laureate.

"Arrow's insightful comments on the issues underlying welfare economics are as fresh and relevant today as they were when they first appeared in 1951. They should be required reading for social scientists who concern themselves with public policy." (Douglass C. North, Washington University)"