Youngest economic Nobel laureate dies at 95

Kenneth Arrow died at his home in Palo Alto, California on Tuesday

Kenneth Arrow, whose study of how the various parts of an economy work toward equilibrium won him the Nobel Prize in 1972 and established him as one of the founders of modern economics, has died, the New York Times reported. He was 95.

Arrow died at his home in Palo Alto, California on Tuesday, the Times said, citing his son, David.

With John R Hicks, a professor at Oxford University, Arrow was honored by the Royal Swedish Academy of Sciences in 1972 “for their pioneering contributions to general economic equilibrium theory and welfare theory.” Arrow was 51 at the time, which stands