Laser Welfare: First Steps in Econodynamic Engineering
The paper starts with a brief review of present understanding of income distributions; especially with regard to recent work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of alternative energy distributions found in physical systems are discussed, and how they could be used to construct economic models that might allow alternative overall distributions of wealth and income in society. These ideas are further expanded and a more detailed scheme for welfare assistance is proposed that might be used to improve the incomes of the poorest in a more efficient way than traditional welfare schemes. Finally, and unusually for a paper on economics; an experiment is proposed that could be used to either support or disprove the ideas discussed in the rest of the paper.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jean-Philippe Bouchaud & Marc Mezard, 2000. "Wealth condensation in a simple model of economy," Science & Finance (CFM) working paper archive 500026, Science & Finance, Capital Fund Management.
- Arnab Chatterjee & Bikas K. Chakrabarti & S. S. Manna, 2003. "Money in Gas-Like Markets: Gibbs and Pareto Laws," Papers cond-mat/0311227, arXiv.org.
- Wataru Souma, 2000. "Universal Structure of the Personal Income Distribution," Papers cond-mat/0011373, arXiv.org.
- Sorin Solomon & Peter Richmond, 2001. "Power Laws of Wealth, Market Order Volumes and Market Returns," Papers cond-mat/0102423, arXiv.org, revised Apr 2001.
- Bouchaud, Jean-Philippe & Mézard, Marc, 2000. "Wealth condensation in a simple model of economy," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 282(3), pages 536-545.
- Geoff Willis & Juergen Mimkes, 2004.
"Evidence for the Independence of Waged and Unwaged Income, Evidence for Boltzmann Distributions in Waged Income, and the Outlines of a Coherent Theory of Income Distribution,"
- G. Willis & J. Mimkes, 2004. "Evidence for the Independence of Waged and Unwaged Income, Evidence for Boltzmann Distributions in Waged Income, and the Outlines of a Coherent Theory of Income Distribution," Papers cond-mat/0406694, arXiv.org.
- Peter Richmond & Sorin Solomon, 2000. "Power Laws are Boltzmann Laws in Disguise," Papers cond-mat/0010222, arXiv.org.
- Foley Duncan K., 1994. "A Statistical Equilibrium Theory of Markets," Journal of Economic Theory, Elsevier, vol. 62(2), pages 321-345, April.
When requesting a correction, please mention this item's handle: RePEc:arx:papers:cond-mat/0408227. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (arXiv administrators)
If references are entirely missing, you can add them using this form.