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> wealth inequality is bad There’s an interesting economic science paper from awhile ago where the researchers examined an economic simulation as wealth inequa
by RangerScience 2y ago
> wealth inequality is bad
There’s an interesting economic science paper from awhile ago where the researchers examined an economic simulation as wealth inequality increased, and their finding was that it’s like temperature in that it causes phase transitions. At some level of wealth inequality, agents stopped being able to trade (most agents didn’t have the funds to trade most goods), causing a “freeze” - going from liquid(ity) to solid.
- WalterBright 2y agoI remember the simulations my Econ prof at Caltech used. They all managed to prove that Marxism worked. He'd win prizes in economics from time to time.