The axiom of choice says that the Cartesian product of nonempty sets is nonempty. That is (for example), if you have sets A_1, A_2, A_3, A_4, ..., and each set contains at least one element, then the set A_1 x A_2 x A_3 x ... contains at least one element.
Actually, that's not quite what the axiom of choice says, but what I've given is an equivalent statement that's perhaps slightly easier to understand.
The axiom of choice is not a theorem; it is an assertion that is (usually) part of the definition of what is meant by the word "set."
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Within set theory, one has a list of axioms which are ways in which we think that sets are supposed to behave. One of the most popular set theories is Zermelo-Fraenkel Set Theory (which I will call ZF from now on). Some examples of axioms in this theory are
* If two sets have the same elements, then they are equal.
* If a and b are two sets, then there exists a set whose elements are a and b.
* There exists an infinite set.
When a mathematician uses the word "set," the mathematician means "an object which satisfies all the axioms of set theory." Usually, the axiom of choice is included as one of these axioms. (The axiom of choice is, then, just a reasonable assertion about how sets should behave, and is part of the definition of what is meant by the word "set.")
For historical reasons which I'll address later on, the axiom of choice is not usually considered one of the axioms of ZF; it's considered a special extra axiom (but still one that's part of the definition of what a "set" is).
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If you want to, it is possible to define a "set" to be something that satisfies all the axioms of ZF, but doesn't have to satisfy the axiom of choice. If you choose to define a set this way, then there will exist sets A_1, A_2, A_3, ... which all contain at least one element, but the Cartesian product A_1 x A_2 x A_3 x ... is the empty set. Most mathematicians feel that this is a stupid way to define "set," because it seems to go against most people's intuition about the way collections of objects ought to behave.
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So why is the axiom of choice not considered part of ZF, but is instead usually considered a special extra axiom? The main reason is that, historically, mathematicians realized that if the axiom of choice is used as part of the definition of "set," then it is possible to prove some things that might seem somewhat counter-intuitive. Some examples include
* The Well-Ordering Theorem: This says that any set can be well-ordered; that is, any set can be arranged in an order (from "smallest" to "largest") so that any nonempty subset has a smallest element.
Note that the natural numbers are well-ordered; any subset of the natural numbers has a smallest element. On the other hand, the real numbers are *not* well-ordered using the usual ordering, because the set {x | x > 0} does not have a smallest element in the usual ordering.
The Well-Ordering Theorem implies that it is possible to re-order the real numbers so that *every* subset has a smallest element (like what happens in the natural numbers). Historically, some mathematicians found this very counter-intuitive, and it caused them to feel that perhaps the axiom of choice was not a reasonable thing to include as part of the definition of a set. To make matters worse, this well-ordering is, in a sense, *non-constructive*--the axiom of choice can be used to prove that it exists, but it's (in some sense) not possible to fully describe all at once what this well-ordering actually is.
* The Banach-Tarski Paradox: This says that it is possible to take a sphere, cut it into finitely many pieces (sets), rotate and move those pieces (sets) finitely many times, and end up with two complete spheres of the exact same dimensions as the original.
To most people, the Banach-Tarski Paradox seems extremely counter-intuitive--but if one accepts the axiom of choice as part of the definition of "set," then it is possible to prove that it's true.
Most mathematicians today accept the Banach-Tarski Paradox as an accurate description of how mathematics works (because one must accept it as true if one accepts the axioms of ZF and the axiom of choice as part of the definition of "set").
Note that the "pieces" in the Banach-Tarski paradox are not contiguous--in fact, they are sets so complicated that referring to the "surface area" of such a set or the "volume inside" such a set doesn't make any sense.
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Nowadays, most mathematicians accept the axiom of choice as part of the definition of what a "set" is, and mathematicians who don't accept the axiom of choice are generally viewed as eccentric.
However, since a few mathematicians don't, it is sometimes considered good to specifically highlight when one uses the axiom of choice in a proof--then those mathematicians who don't accept it can be aware that, to them, the proof is not valid, because when I use the word "set" I mean something that satisfies the axiom of choice, and when they use the word "set," they mean something else entirely.