"I think we may safely agree that the notion of democracy has two components, both indispensable: 1) the securing of the freedom of the individual so that he may develop his individual potential; 2) a symmetric mutual respect of the individuals in the society for each other. These aims are, as has been frequently remarked, partly competitive; but, it must also be stressed, they are to a very considerable extent complementary. A hierarchical society marked by great inequalities in power and esteem will surely not tolerate the liberties of those most disadvantaged. Conversely a world in which individuals have their liberties tightly confined must be one in which there are large inequalities of power."
Kenneth Arrow

January 1, 1970