How much inequality is fair? : mathematical principals for a moral, optimal, and stable capitalist society /

Saved in:
Bibliographic Details
Author / Creator:Venkatasubramanian, Venkataraman, 1956- author.
Imprint:New York : Columbia University Press, [2017]
Description:xxi, 279 pages ; 24 cm
Language:English
Subject:
Format: Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11309096
Hidden Bibliographic Details
ISBN:9780231180726
0231180721
Notes:Includes bibliographical references and index.
Table of Contents:
  • List of Tables
  • List of Figures
  • Preface
  • Chapter 1. Extreme Inequality in Income and Wealth
  • 1.1. Rise of the Top 1% and Fall of the Bottom 90%
  • 1.2. Executive Pay and High CEO Pay Ratios
  • 1.3. Economic Inequality: What Do People Consider Fair?
  • 1.4. Why Is Extreme Inequality Worrisome?
  • 1.5. A New Mathematical Theory of Fairness in a Capitalist Society
  • Chapter 2. Foundational Principles of a Fair Capitalist Society
  • 2.1. Philosophical Perspectives: Mill, Rawls, Nozick, and Dworkin
  • 2.2. A System-Theoretic Perspective
  • 2.3. What Is the Purpose of a Society?
  • 2.4. BhuVai: A Hybrid Utopian Society of Universal Happiness
  • Chapter 3. Distributive Justice in a Hybrid Utopia
  • 3.1. Income Distribution in BhuVai: Formulating the Problem
  • 3.2. A Microeconomic Game-Theoretic Framework: "Restless" Agents Model
  • 3.3. Potential Game Formulation of Free-Market Dynamics
  • 3.4. Is There an Equilibrium Income Distribution?
  • 3.5. Connection with Statistical Thermodynamics
  • Chapter 4. Statistical Thermodynamics and Equilibrium Distribution
  • 4.1. Brief History
  • 4.2. "Molecular Society": Microstates, Macrostates, and Multiplicity
  • 4.3. Phase Space, Entropy, and Statistical Equilibrium
  • Chapter 5. Fairness in Income Distribution
  • 5.1. Complex Teleological Systems
  • 5.2. Statistical Teleodynamics: Intrinsic and Extrinsic Properties
  • 5.3. Phase Space in Statistical Teleodynamics
  • 5.4. What Is the Equilibrium Income Distribution in BhuVai?
  • 5.5. Is the Equilibrium Distribution Fair?
  • 5.6. Entropy: Correcting the Misinterpretations
  • 5.7. Replicator Dynamics
  • 5.8. Is the Ideal Free Market Morally Justified?
  • 5.9. Is the Equilibrium Income Distribution Stable?
  • 5.10. Fairness, Stability, and Robustness of a Free-Market Society
  • 5.11. Comparison with Walrasian General Equilibrium
  • 5.12. Bipopulation Game
  • 5.13. Midpoint Summary
  • Chapter 6. Global Trends in Income Inequality: Theory Versus Reality
  • 6.1. Comparing Theory with Reality
  • 6.2. A New Measure of Fairness in Income Inequality: ¿
  • 6.3. Scandinavia: Almost Utopian
  • 6.4. Potential Loss of Growth due to Extreme Inequality
  • 6.5. Are the Rich Different from You and Me?
  • 6.6. Gini Coefficient versus ¿
  • 6.7. One-Class and Two-Class Societies: Simulation Results
  • 6.8. Summary
  • Chapter 7. What Is Fair Pay for Executives?
  • 7.1. Theory's Predictions for Large Corporations
  • 7.2. How Much of a Company's Success Is due to the Executives?
  • Chapter 8. Final Synthesis and Future Directions
  • 8.1. Mathematical Foundations of a Utopian Capitalist Society: Maximum Fairness as the Design Principle
  • 8.2. Statistical Teleodynamics: Macroview
  • 8.3. Statistical Teleodynamics: Microview
  • 8.4. Significance of the Utility Function and Its Parameters
  • 8.5. Can a Simple Model Handle Free-Market's Complexity?
  • 8.6. What About Economic Growth?
  • 8.7. Comparison with Econophysics
  • 8.8. Future Directions: Theoretical and Empirical Studies
  • 8.9. Summary and Final Thoughts
  • Notes
  • Bibliography
  • Index