How Much Inequality Is Fair?: Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

Many in the United States feel that the nation's current level of economic inequality is unfair and...
BD$70.42 BMD
BD$70.42 BMD
SKU: 9780231180733
Product Type: Books
Please hurry! Only 381 left in stock
Author: Venkat Venkatasubramanian
Format: Paperback
Language: English
Subtotal: BD$70.42
10 customers are viewing this product
How Much Inequality Is Fair?: Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society by Venkatasubramanian, Venkat

How Much Inequality Is Fair?: Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

BD$70.42

How Much Inequality Is Fair?: Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

BD$70.42
Author: Venkat Venkatasubramanian
Format: Paperback
Language: English

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.

Author: Venkat Venkatasubramanian
Publisher: Columbia University Press
Published: 06/25/2019
Pages: 304
Binding Type: Paperback
Weight: 0.90lbs
Size: 8.80h x 6.00w x 0.80d
ISBN: 9780231180733

About the Author
Venkat Venkatasubramanian is Samuel Ruben-Peter G. Viele Professor of Engineering at Columbia University.

Returns Policy

You may return most new, unopened items within 30 days of delivery for a full refund. We'll also pay the return shipping costs if the return is a result of our error (you received an incorrect or defective item, etc.).

You should expect to receive your refund within four weeks of giving your package to the return shipper, however, in many cases you will receive a refund more quickly. This time period includes the transit time for us to receive your return from the shipper (5 to 10 business days), the time it takes us to process your return once we receive it (3 to 5 business days), and the time it takes your bank to process our refund request (5 to 10 business days).

If you need to return an item, simply login to your account, view the order using the "Complete Orders" link under the My Account menu and click the Return Item(s) button. We'll notify you via e-mail of your refund once we've received and processed the returned item.

Shipping

We can ship to virtually any address in the world. Note that there are restrictions on some products, and some products cannot be shipped to international destinations.

When you place an order, we will estimate shipping and delivery dates for you based on the availability of your items and the shipping options you choose. Depending on the shipping provider you choose, shipping date estimates may appear on the shipping quotes page.

Please also note that the shipping rates for many items we sell are weight-based. The weight of any such item can be found on its detail page. To reflect the policies of the shipping companies we use, all weights will be rounded up to the next full pound.

Related Products

Recently Viewed Products