The Impossibility Theorem implies that once the free market pricing system is abandoned, there is no way of determining aggregate social preferences.

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The Impossibility Theorem, also known as Arrow's impossibility theorem, states that no ranked voting system can convert the ranked preferences of individuals into a community-wide ranking while meeting certain criteria. This implies that there is no perfect way to determine aggregate social preferences, and abandoning the free market pricing system exacerbates this problem. Therefore, the statement is true.

The Impossibility Theorem Implies That Once the Free Market Pricing