written by Wolfgang Christian, Harvey Gould, and Jan Tobochnik

Many societies exhibit large wealth inequalities but what is the cause of this inequality?  This talk describes simple models of economic activity that show that inequality may be inevitable and unless an economy includes wealth sharing or redistribution. Our models show that inequality occurs naturally when two people decide to exchange goods, agree on a price and voluntarily engage in a transaction. The simple econo-physics models presented in this talk can run on a smart phone, tablet, or a laptop, and are available at no cost in the Open Source Physics digital library.

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Last Modified November 4, 2022

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