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How Much Inequality Is Fair?Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society$
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Venkat Venkatasubramanian

Print publication date: 2017

Print ISBN-13: 9780231180726

Published to Columbia Scholarship Online: January 2019

DOI: 10.7312/columbia/9780231180726.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 20 June 2021

Extreme Inequality in Income and Wealth

Extreme Inequality in Income and Wealth

(p.1) Chapter One Extreme Inequality in Income and Wealth
How Much Inequality Is Fair?

Venkat Venkatasubramanian

Columbia University Press

Chapter one provides a summary of the global trends in income inequality and ask what kind income distribution there ought to be, under ideal conditions, in a free market society. The chapter also raises three other fundamental questions regarding the fairness, stability and optimality of such a distribution. Since these questions cannot be answered by mainstream economic theories, or by econophysics, we outline the development of our novel theory to address them.

Keywords:   Income inequality, fairness, morality, income distribution, equilibrium, econophysics

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