How Much Inequality Is Fair? : : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / / Venkat Venkatasubramanian.
Many in the United States feel that the nation's current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on...
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Venkatasubramanian, Venkat, author. aut http://id.loc.gov/vocabulary/relators/aut How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / Venkat Venkatasubramanian. New York, NY : Columbia University Press, [2017] ©2017 1 online resource (288 p.) : 35 b&w figures text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Tables -- Figures -- Preface -- CHAPTER ONE. Extreme Inequality in Income and Wealth -- CHAPTER TWO. Foundational Principles of a Fair Capitalist Society -- CHAPTER THREE. Distributive Justice in a Hybrid Utopia -- CHAPTER FOUR. Statistical Thermodynamics and Equilibrium Distribution -- CHAPTER FIVE. Fairness in Income Distribution -- CHAPTER SIX. Global Trends in Income Inequality: Theory Versus Reality -- CHAPTER SEVEN. What Is Fair Pay for Executives? -- CHAPTER EIGHT. Final Synthesis and Future Directions -- Notes -- Bibliography -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Many in the United States feel that the nation's current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is-and for this, we need a quantitative, testable theory of fairness for free-market capitalism.How Much Inequality Is Fair?synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory's predictions to actual inequality data from various countries-showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair-and discusses the theory's implications for tax policy, social programs, and executive compensation. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022) Capitalism Moral and ethical aspects. Equality Mathematical models. Income distribution Mathematical models. Wealth Mathematical models. BUSINESS & ECONOMICS / Economics / Theory. bisacsh Title is part of eBook package: De Gruyter Columbia University Press Complete eBook-Package 2017 9783110543308 Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2017 9783110540550 ZDB-23-DGG Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE ENGLISH 2017 9783110625264 Title is part of eBook package: De Gruyter EBOOK PACKAGE Economics 2017 9783110547740 ZDB-23-DBV print 9780231180726 https://doi.org/10.7312/venk18072 https://www.degruyter.com/isbn/9780231543224 Cover https://www.degruyter.com/document/cover/isbn/9780231543224/original |
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Venkatasubramanian, Venkat, Venkatasubramanian, Venkat, |
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Venkatasubramanian, Venkat, Venkatasubramanian, Venkat, How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / Frontmatter -- Contents -- Tables -- Figures -- Preface -- CHAPTER ONE. Extreme Inequality in Income and Wealth -- CHAPTER TWO. Foundational Principles of a Fair Capitalist Society -- CHAPTER THREE. Distributive Justice in a Hybrid Utopia -- CHAPTER FOUR. Statistical Thermodynamics and Equilibrium Distribution -- CHAPTER FIVE. Fairness in Income Distribution -- CHAPTER SIX. Global Trends in Income Inequality: Theory Versus Reality -- CHAPTER SEVEN. What Is Fair Pay for Executives? -- CHAPTER EIGHT. Final Synthesis and Future Directions -- Notes -- Bibliography -- Index |
author_facet |
Venkatasubramanian, Venkat, Venkatasubramanian, Venkat, |
author_variant |
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Venkatasubramanian, Venkat, |
title |
How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / |
title_sub |
Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / |
title_full |
How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / Venkat Venkatasubramanian. |
title_fullStr |
How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / Venkat Venkatasubramanian. |
title_full_unstemmed |
How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / Venkat Venkatasubramanian. |
title_auth |
How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / |
title_alt |
Frontmatter -- Contents -- Tables -- Figures -- Preface -- CHAPTER ONE. Extreme Inequality in Income and Wealth -- CHAPTER TWO. Foundational Principles of a Fair Capitalist Society -- CHAPTER THREE. Distributive Justice in a Hybrid Utopia -- CHAPTER FOUR. Statistical Thermodynamics and Equilibrium Distribution -- CHAPTER FIVE. Fairness in Income Distribution -- CHAPTER SIX. Global Trends in Income Inequality: Theory Versus Reality -- CHAPTER SEVEN. What Is Fair Pay for Executives? -- CHAPTER EIGHT. Final Synthesis and Future Directions -- Notes -- Bibliography -- Index |
title_new |
How Much Inequality Is Fair? : |
title_sort |
how much inequality is fair? : mathematical principles of a moral, optimal, and stable capitalist society / |
publisher |
Columbia University Press, |
publishDate |
2017 |
physical |
1 online resource (288 p.) : 35 b&w figures Issued also in print. |
contents |
Frontmatter -- Contents -- Tables -- Figures -- Preface -- CHAPTER ONE. Extreme Inequality in Income and Wealth -- CHAPTER TWO. Foundational Principles of a Fair Capitalist Society -- CHAPTER THREE. Distributive Justice in a Hybrid Utopia -- CHAPTER FOUR. Statistical Thermodynamics and Equilibrium Distribution -- CHAPTER FIVE. Fairness in Income Distribution -- CHAPTER SIX. Global Trends in Income Inequality: Theory Versus Reality -- CHAPTER SEVEN. What Is Fair Pay for Executives? -- CHAPTER EIGHT. Final Synthesis and Future Directions -- Notes -- Bibliography -- Index |
isbn |
9780231543224 9783110543308 9783110540550 9783110625264 9783110547740 9780231180726 |
url |
https://doi.org/10.7312/venk18072 https://www.degruyter.com/isbn/9780231543224 https://www.degruyter.com/document/cover/isbn/9780231543224/original |
illustrated |
Not Illustrated |
doi_str_mv |
10.7312/venk18072 |
oclc_num |
984590630 |
work_keys_str_mv |
AT venkatasubramanianvenkat howmuchinequalityisfairmathematicalprinciplesofamoraloptimalandstablecapitalistsociety |
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n |
ids_txt_mv |
(DE-B1597)480289 (OCoLC)984590630 |
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hierarchy_parent_title |
Title is part of eBook package: De Gruyter Columbia University Press Complete eBook-Package 2017 Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2017 Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE ENGLISH 2017 Title is part of eBook package: De Gruyter EBOOK PACKAGE Economics 2017 |
is_hierarchy_title |
How Much Inequality Is Fair? : Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society / |
container_title |
Title is part of eBook package: De Gruyter Columbia University Press Complete eBook-Package 2017 |
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