Arrow's Impossibility Theorem Explained

This video explains Arrow's Impossibility Theorem, which proves mathematically that there is no perfect voting system. The video defines "voting system" and goes over the four properties that are part of the theorem: Independence of Irrelevant Alternatives, Pareto Efficiency, Unrestricted Domain, and Non-Dictatorship.

For more on the theorem:
1) https://plato.stanford.edu/entries/ar... (General)
2) https://link.springer.com/article/10.... (Mathematical proofs)

0:00 - Overview
0:33 - What is a voting system?
1:04 - Examples of voting systems
2:33 - Arrow's Impossibility Theorem Properties
4:42 - Violations of Independence of Irrelevant Alternatives
8:37 - Dispair?