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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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Extreme Inequality in Income and Wealth

Extreme Inequality in Income and Wealth

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

Venkat Venkatasubramanian

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231180726.003.0001

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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