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