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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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Final Synthesis and Future Directions

Final Synthesis and Future Directions

Chapter:
(p.191) Chapter Eight Final Synthesis and Future Directions
Source:
How Much Inequality Is Fair?
Author(s):

Venkat Venkatasubramanian

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231180726.003.0008

In this final chapter, we briefly review the different strands of our theory, synthesize and express the unified framework as formal postulates, and clarify certain subtle issues. We discuss the significance of the parameters α‎, β‎ and γ‎. We also discuss the limitations of our theory, particularly with respect to the workings of a real-life free market, and outline future directions in both theoretical and empirical studies to develop our theory further.

Keywords:   Statistical teleodynamics postulates, tax & transfer guidelines, symmetry and equality

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