Download the fantastic book titled How Much Inequality Is Fair written by Venkat Venkatasubramanian, available in its entirety in both PDF and EPUB formats for online reading. This page includes a concise summary, a preview of the book cover, and detailed information about "How Much Inequality Is Fair ", which was released on 08 August 2017. We suggest perusing the summary before initiating your download. This book is a top selection for enthusiasts of the Business & Economics genre.
Summary of How Much Inequality Is Fair by Venkat Venkatasubramanian PDF
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.
Detail About How Much Inequality Is Fair PDF
- Author : Venkat Venkatasubramanian
- Publisher : Columbia University Press
- Genre : Business & Economics
- Total Pages : 410 pages
- ISBN : 0231543220
- Release Date : 08 August 2017
- PDF File Size : 7,6 Mb
- Language : English
- Rating : 4/5 from 21 reviews
Clicking on the GET BOOK button will initiate the downloading process of How Much Inequality Is Fair by Venkat Venkatasubramanian. This book is available in ePub and PDF format with a single click unlimited downloads.