heh. the physicists are writing papers about the economy. huh. well, if economists have physics envy, then the physicists now seem to have econodrone envy. the link and commentary forwarded from declan mccullagh's politech list
<forwarded>
*******
Date: Wed, 23 Aug 2000 10:13:51 +0100
>To: declan at well.com
>From: "Charles Arthur, The Independent" <carthur at independent.co.uk>
>Subject: Why the rich get richer... it's mathematical
>
>Hi Declan...
>
>Perhaps off your beaten track, but really really interesting. An article in
>New Scientist magazine about "econophysics" - basically, trying to build
>economics from the ground up. Easier to read in paper form, but here's the
>URL:
>
>http://www.newscientist.com/features/features.jsp?id=ns225217
>
>Interestingly it says that in a low-friction economy (ie where you don't
>have to pay taxes/duties/trading costs on exchanges) you tend to get a
>division of wealth which is *more* equal. Low taxes => socialism? Who would
>have thought?
>
>The implications are fascinating, and it's a well-written article.
>
> best
> Charles