Harsanyi, J. C. (1953). "Cardinal Utility in Welfare Economics and in the Theory of Risk-taking". J. Polit. Economy 61 (5): p. 434
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If somebody prefers an income distribution more favorable to the poor for the sole reason that he is poor himself, this can hardly be considered as a genuine value judgment on social welfare.
— John Harsanyi
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "If somebody prefers an income distribution more favorable to the poor for the sole reason that he is poor himself, this can hardly be considered as a genuine value judgment on social welfare." in the context of "Harsanyi, J. C. (1953). "Cardinal Utility in Welfare Economics and in the Theory of Risk-taking". J. Polit. Economy 61 (5): p. 434" to mean that wisdom is timeless.
Source: Wikiquote: "John Harsanyi" (Quotes)
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About John Harsanyi
John Charles Harsanyi (May 29, 1920 – August 9, 2000) was a Hungarian economist, best known for his contributions to the study of game theory and economic reasoning in political and moral philosophy as well as contributing to the study of equilibrium selection. For his work, he was a co-recipient along with John Nash and Reinhard Selten of the 1994 Nobel Memorial Prize in Economics.
About John Harsanyi
John Charles Harsanyi (May 29, 1920 – August 9, 2000) was a Hungarian economist, best known for his contributions to the study of game theory and economic reasoning in political and moral philosophy as well as contributing to the study of equilibrium selection. For his work, he was a co-recipient along with John Nash and Reinhard Selten of the 1994 Nobel Memorial Prize in Economics.
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