Related papers: The Struggle with Inequality
Classical economics has developed an arsenal of methods, based on the idea of representative agents, to come up with precise numbers for next year's GDP, inflation and exchange rates, among (many) other things. Few, however, will disagree…
This paper presents some new inequalities, the most important of which is the inequality given in Theorem 2.1. It can solve a class of inequalities by a unified method. An important application of the inequality given in Theorem 2.1 is to…
Various papers demonstrate the importance of inequality, poverty and the size of the middle class for economic growth. When explaining why these measures of the income distribution are added to the growth regression, it is often mentioned…
Understanding the statistical dynamics of growth and inequality is a fundamental challenge to ecology and society. Recent analyses of wealth and income dynamics in contemporary societies show that economic inequality is very dynamic and…
This Colloquium reviews statistical models for money, wealth, and income distributions developed in the econophysics literature since the late 1990s. By analogy with the Boltzmann-Gibbs distribution of energy in physics, it is shown that…
We introduce a minimal agent-based model to qualitatively conceptualize the allocation of limited wealth among more abundant opportunities. We study the interplay of power, satisfaction and frustration in distribution, concentration, and…
We reformulate an earlier model of the "Emergence of classes..." proposed by Axtell etal. using more elaborate cognitive processes allowing a statistical physics approach. The thorough analysis of the phase space and of the basins of…
Generative Artificial Intelligence constitutes a new wave of automation. There is broad agreement among economists that humanity is potentially entering into a period of profound change. However, significant uncertainties and disagreements…
Hysteresis is treated as a history dependent branching, and the use of the classical Preisach model for the analysis of macroeconomic hysteresis is first discussed. Then, a new Preisach-type model is introduced as a macroeconomic…
The mathematisation of the socio-economic sphere, where mathematics actively constructs social reality, presents a challenge for studies on ethics in mathematics and its education. While existing scholarship on ethics in mathematics offers…
Probability distributions of money, income, and energy consumption per capita are studied for ensembles of economic agents. The principle of entropy maximization for partitioning of a limited resource gives exponential distributions for the…
Society as a whole faces a host of economic tradeoffs, many of which emerge around economic policies. An example of tradeoffs that any society faces in many economic realms is the tradeoff between economic efficiency and income equality…
A simple heuristic model, including the multiple exchanges between economic agents, is used to explain the mechanism of emerging and maintenance of social inequality in the market economy. The model allows calculating a density function of…
The article develops a general equilibrium model where power relations are central in the determination of unemployment, profitability, and income distribution. The paper contributes to the market forces versus institutions debate by…
How difficult is it for an early career academic to climb the ranks of their discipline? We tackle this question with a comprehensive bibliometric analysis of 57 disciplines, examining the publications of more than 5 million authors whose…
Structural inequalities persist in society, conferring systematic advantages to some people at the expense of others, for example, by giving them substantially more influence and opportunities. Using bibliometric data about authors of…
The following measures against unemployment are proposed: In the short term, to promote greater income for the poorest sectors. It is shown that this can be paid with the resulting increased production, without losing income to the other…
Classical measures of inequality use the mean as the benchmark of economic dispersion. They are not sensitive to inequality at the left tail of the distribution, where it would matter most. This paper presents a new inequality measurement…
This is an invited article for the Discussion and Debate special issue of The European Physical Journal Special Topics on the subject "Can Economics Be a Physical Science?" The first part of the paper traces the personal path of the author…
To simultaneously overcome the limitation of the Gini index in that it is less sensitive to inequality at the tails of income distribution and the limitation of the inter-decile ratios that ignore inequality in the middle of income…