This is an excellent article with nice thought experiments and a practical model. Key takeaways for me: "The very first coin flip transfers money from one age

This is an excellent article with nice thought experiments and a practical model. Key takeaways for me: "The very first coin flip transfers money from one agent to another, setting up an imbalance between the two. And once we have some variance in wealth, however minute, succeeding transactions will systematically move a “trickle” of wealth upward from poorer agents to richer ones, amplifying inequality until the system reaches a state of oligarchy." 1) Winners can be completely determined by luck, much like in real life (and especially business). And 2) without anti-oligarchy policies, wealth accumulation to a few people is built into capitalist (or is it just scarcity-based?) systems. "We found that this simple modification [flat tax on wealth] stabilized the wealth distribution so that oligarchy no longer resulted. And astonishingly, it enabled our model to match empirical data on U.S. and European wealth distribution between 1989 and 2016 to better than 2 percent." So if you want to keep capitalism, but prevent utter inequality the implication is the best way is a wealth tax.