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The Balanced Scorecard: An Intentional Academic Fraud?, David Randall Jenkins
The Balanced Scorecard: An Intentional Academic Fraud?, David Randall Jenkins
David Randall Jenkins
The Kaplan and Norton 1992 Balanced Scorecard was intentionally structured to aid an Informal Capital Market Cartel in search of the next John Maynard Keynes.
Collective Choice, Justin Schwartz
Collective Choice, Justin Schwartz
Justin Schwartz
This short nontechnical article reviews the Arrow Impossibility Theorem and its implications for rational democratic decisionmaking. In the 1950s, economist Kenneth J. Arrow proved that no method for producing a unique social choice involving at least three choices and three actors could satisfy four seemingly obvious constraints that are practically constitutive of democratic decisionmaking. Any such method must violate such a constraint and risks leading to disturbingly irrational results such and Condorcet cycling. I explain the theorem in plain, nonmathematical language, and discuss the history, range, and prospects of avoiding what seems like a fundamental theoretical challenge to the possibility …