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Inequalities of Wealth Distribution in a Society with Social Classes

In: Practical Fruits of Econophysics

Author

Listed:
  • J. R. Iglesias

    (Univ. Fed. do Rio Grande do Sul
    Univ. Fed. do Rio Grande do Sul)

  • S. Risau-Gusman

    (Univ. Fed. do Rio Grande do Sul)

  • M. F. Laguna

    (The Abdus Salam International Center for Theoretical Physics)

Abstract

Summary We study a simple model of capital exchange among economic agents in which the effect of a correlation between wealth and connectivity is considered within two different hypotheses: a) agents interact within their own social or economic class and b) agent’s connectivity is related to its success in exchange transactions. The wealth distribution in the first case may generate a two-class society with a clear gap in the middle and highly unequal power law distributions with a great number of strongly impoverished agents and a few very rich ones. In the second case the wealth distribution is modified by the dynamics of the lattice, getting closer to a power law for some values of the parameters of the model. As expected, the lattice itself is different from the random initial one.

Suggested Citation

  • J. R. Iglesias & S. Risau-Gusman & M. F. Laguna, 2006. "Inequalities of Wealth Distribution in a Society with Social Classes," Springer Books, in: Hideki Takayasu (ed.), Practical Fruits of Econophysics, pages 327-332, Springer.
    • Handle: RePEc:spr:sprchp:978-4-431-28915-9_60
    DOI: 10.1007/4-431-28915-1_60
    as

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