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The problem is, as often in economics, defining the terms and building a model that approximates life. It's not as trivial as a sorting algorithm or a simple 1
by antisthenes 10y ago
The problem is, as often in economics, defining the terms and building a model that approximates life. It's not as trivial as a sorting algorithm or a simple 1 parameter regression.
How do you define wealth concentration, for example? If your definition is flawed, you can throw out the entire model.
- Paul-ish 10y agoI suppose that is why people spend their entire academic career looking at these things.