The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972
John R. Hicks, Kenneth J. Arrow
Interview with the 1972 Economics Laureate, Kenneth J. Arrow, 27 August, 2008. The interviewer is Adam Smith, Editor-in-Chief of Nobelprize.org.
Kenneth Arrow discusses his early education and the appeal of probability theory, his efforts during World War II to improve flight routes by calculating wind patterns (20:26), how the Impossibility Theorem was born (36:15), and why his theories on health "changed the whole texture of how people thought about the problem" (43:15). He also outlines the economics of climate change (51:00) and speculates on the biggest challenges facing economics today (53:25).