Thursday, 16.11.2020 – Is Inequality Inevitable?

Link of the day: Is Inequality Inevitable?

This is a very interesting piece. The authors model different wealth distributions as the result of countless single transactions between two individuals. They start off with symmetric transactions, where none of the participants has an advantage over the other. Nevertheless, they always end up with a wealth distribution that becomes increasingly unequal over time. After adjusting for some parameters like wealth redistribution, they are able to model the development of the US American wealth distribution over time astonishingly well.

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