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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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Global Trends in Income Inequality: Theory Versus Reality

Global Trends in Income Inequality: Theory Versus Reality

(p.143) Chapter Six Global Trends in Income Inequality: Theory Versus Reality
How Much Inequality Is Fair?

Venkat Venkatasubramanian

Columbia University Press

We compare the predictions of our theory with empirical income data from a dozen different countries. We define a new measure of inequality, called the non-ideal inequality coefficient. We show that Norway is close to ideal inequality for the bottom 99% of the population while the U.S. is the most non-ideal at the other extreme. The other countries are in between these two. We find it remarkable that the Scandinavian societies have discovered the near-ideal share by themselves in practice without any prior knowledge of even its existence.

Keywords:   Non-ideal inequality coefficient, agent-based simulation, Scandinavia, utopia

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