Arrow's Theorem is irrelevant because you don't need to have a way of voting for some group preference that meets its criteria in order to have an approximate n

Arrow's Theorem is irrelevant because you don't need to have a way of voting for some group preference that meets its criteria in order to have an approximate notion of what "value to society" means. Formulating a precise definition of "value to society" is irrelevant to the discussion. Gosh, maybe it means there's benefit to people other than the direct recipient of the education! Because, you know, if you look at the way people use that phrase, that's what they use it to mean. > But if you scroll up, you'll see that Retra was arguing against a price-based (i.e. cardinal) construction. Price people are paying is not the same thing as "utility", good job misreading Retra's comment.