Heterodox
Hat tip Lambert Strether at Naked Capitalism. Bruce Boghosian runs the numbers and shows that without redistribution of wealth, the rich get richer and everyone else gets poorer… Using a mathematical model devised to mimic a simplified version of the free market, he and colleagues are finding that, without redistribution, wealth becomes increasingly more concentrated, and inequality grows until almost all assets are held by an extremely small percent of people. “Our work refutes the idea...
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