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Topic: Wealth condensation


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In the News (Tue 18 Jun 19)

  
  Wealth condensation - Wikipedia, the free encyclopedia
Wealth condensation is a theoretical process by which, in certain conditions, newly-created wealth tends to become concentrated in the possession of already-wealthy individuals or entities.
According to this theory, those who already hold wealth have the means to invest in new sources of creating wealth or to otherwise leverage the accumulation of wealth, thus are the beneficiaries of the new wealth.
In their wealth condensation model Bouchard and Mezard estimate that 90% of "total wealth" is owned by 5% of the population in many rich countries.
en.wikipedia.org /wiki/Wealth_condensation   (1466 words)

  
 Wealth - Wikipedia, the free encyclopedia
In many countries wealth is also measured by reference to access to essential services such as health care, or the possession of crops and livestock.
The shift from the analysis of an individual's wealth to the concept of an aggregation of all men is implied in the concepts of political economy and then economics.
Different societies have different opinions about wealth distribution and about the obligations related to wealth, but from the era of the tribal society to the modern era, there have been means of moderating the acquisition and use of wealth.
en.wikipedia.org /wiki/Wealth   (3330 words)

  
 Economic inequality - Wikipedia, the free encyclopedia
As an example of wealth condensation, truck drivers who own their own trucks consistently make more money than those who do not since the owner of a truck can escape the rent charged to drivers by owners (Even taking into account maintenance and other costs).
Libertarian Robert Nozick argued that government redistributes wealth by force (usually in the form of taxation), and that the ideal, moral society would be one where all individuals are free from force.
The main practical argument in favor of the acceptance of economic inequality is that, as long as the cause is mainly due to differences in behavior, the inequality serves as an economic engine to push the society towards economically healthy and efficient behavior, and is therefore beneficial.
en.wikipedia.org /wiki/Economic_inequality   (4458 words)

  
 Wealth
Wealth is an abundance of items of economic value, or the state of controlling or possessing such items, and encompasses money, real estate and personal property.
While it is entirely likely that such assumptions apply in the subcultures that dominate modern discourse on technical economics and especially macroeconomics, the less technical notions of wealth and power that are implied in the older theories of economics and ideas of wealth, still continue as daily facts of life.
In western tradition, the concepts of owning land and accumulating wealth in the form of land, are justified according to John Locke.
www.brainyencyclopedia.com /encyclopedia/w/we/wealth.html   (3224 words)

  
 Wealth   (Site not responding. Last check: 2007-10-22)
The shift from the of an individual's wealth to the concept an aggregation of all men is implied the concepts of political economy and then economics.
Wealth was as an objective fact of living as human being in a society.
Societies have different opinions about wealth distribution of the obligations related to wealth but from the of the tribal society to the modern there have been means of moderating the and use of wealth.
www.freeglossary.com /Wealth   (2424 words)

  
 Wikinfo | Wealth   (Site not responding. Last check: 2007-10-22)
Some people believe wealth is a zero-sum game, where there is a limited amount of wealth and some must lose in order for others to gain.
Societies have different opinions about wealth distribution and of the obligations related to wealth, but from the era of the tribal society to the modern era, there have been means of moderating the acquisition and use of wealth.
The concepts of owning land and accumulating wealth in the form of land, were and are difficult to characterize in Enlightenment terms, bearing more resemblance to modern ideas of bioregionalism or ecological stewardship or natural capital.
www.wikinfo.org /wiki.php?title=Wealth   (1993 words)

  
 [No title]   (Site not responding. Last check: 2007-10-22)
Wealth was 4 seen as an objective 7 fact of living as 0 a human being in 0 a society.
Regardless of whether you define 5 wealth as the 8 sum total of all 9 currency, the M1 4 money supply, or a 9 broader measure which includes 7 money, securities, and 3 property, the supply of 5 wealth, while limited, is 2 not fixed.
Societies have different opinions about wealth 8 distribution and of 5 the obligations related to 4 wealth, but from the 0 era of the 5 tribal society to 8 the modern era, 8 there have been means 3 of moderating the 0 acquisition and use of 2 wealth.
www.thub.net /wealth_.htm   (2710 words)

  
 Health And Wealth -- Recommendations and Resources   (Site not responding. Last check: 2007-10-22)
The essence of ''Health and Wealth'' teaching is that God desires for all his followers to be materially prosperous and to live a healthy, fulfilled life.
Two processes that some critics claim are driving wealth condensation are: # The process by which corporate officers are paid large salaries and bonuses, the total compensation sometimes being as much as thirty thousand times as much as that of their lower-paid employees.
"The Gospel of Wealth" was an essay written by industrialist Andrew Carnegie in 1889 that described the responsibility of philanthropy of the new upper class of self-made monopolists.
www.becomingapediatrician.com /health/68/health-and-wealth.html   (2244 words)

  
 Millionaire | Topic Definition | Find the Meaning and Define the Answer of Millionaire   (Site not responding. Last check: 2007-10-22)
A millionaire is a person who has a net worth or wealth of more than one million United States dollars, euros, UK pounds or units of a comparably valued currency.
The increasing number of millionaires is partially due to inflation: a million dollars, for example, provides far less purchasing power today than it did in the 19th century.
Note that this is "financial-asset wealth", not real estate wealth, or "net worth" wealth.
www.thefreeencyclopedia.com /definition/word.aspx?w=Millionaire   (668 words)

  
 ipedia.com: Wealth Article   (Site not responding. Last check: 2007-10-22)
Thus, there is room for people to gain wealth without taking from another, and wealth is not a zero-sum game.
Although wealth is created primarily by the wealthy, they will tend to reinvest their wealth, and this process will create even more wealth.
Supply siders claim that wealth is created primarily by investment (supply), whereas Keynsians claim that wealth is driven by expenditure (demand).
www.ipedia.com /wealth.html   (2393 words)

  
 Wealth   (Site not responding. Last check: 2007-10-22)
Within the United States, having a net worth of $500,000 in the Midwest certainly places you among the region's wealthiest citizens, yet that same net wealth would be considered quite modest on New York City's Upper East Side.
In The Prince, Niccolo Machiavelli had commented in that earlier era on the prudent use of wealth, and the need to tolerate some cruelty and vice in the use of it, in order to maintain appearances of strength and power.
In extremely ecologically rich areas such as those inhabited by the Haida in the Cascadia Pacific East Rim ecoregion, traditions like potlatch kept wealth relatively evenly distributed, requiring leaders to buy continued status and respect with giveaways of wealth to the poorer members of society.
wealth.kiwiki.homeip.net   (2703 words)

  
 Wealth Produces Corruption   (Site not responding. Last check: 2007-10-22)
Ironically, the new model suggests that wealth condensation poses the greatest danger to economies that impose constraints on the accumulation of great wealth - broadly speaking, socialist economies.
The upper middle class and moderately wealthy (worth, say $1 million or thereabouts), find it more difficult to pass on their estate to their children, because the estate tax, income tax and property taxes, force those kinds of estates to be broken up upon the death of the parents.
Wealth is not fixed -- otherwise, our standard of living would be the same as it was 500 years ago.
www.freerepublic.com /focus/f-news/617362/posts   (2558 words)

  
 Individual Wealth
social elite was impenetrable to wealth-creators, nor that wealth was synonymous with social status...
All the harvests of the plain are his possessions, having earned all this wealth without the least labour...
influence that wealth holds over the whole human race is the confusion in the individual mind concerning...
www.krpublishing.co.uk /Resources/individual-wealth.html   (677 words)

  
 That's the way the money goes
As "condensed matter" physicists, the pair have for two decades been investigating the properties of solids and liquids, substances in which the atoms or molecules are crammed together.
This sudden condensation is like the freezing of glass, or the pinning in place of a magnetic field line.
Which kind wealth follows depends on how "hot" the economy is. When trading is easy, and the irregularity of returns on investment not too severe, the economy behaves like a polymer at high temperature.
pages.britishlibrary.net /blwww3/3way/markbuchanan19-08-00.htm   (2667 words)

  
 Bookkeepingmechanics: Accounting viewed as bouncing particles
We analyze wealth condensation for a wide class of stochastic economy models on the basis of the economic analog
Wealth condensation is the result of stochastic tunneling through a metastable
wealth condensation is a hyperbolic function of the annual profit rate.
www.bookkeepingmechanics.com   (582 words)

  
 Great Moments in Science - Economics & Science 2
The economists believed this law of how the wealth is spread around in various societies, because they could see the proof everywhere around them - but nobody could explain why.
Bouchard and Mézard incorporated this assumption into their specialised knowledge of "condensed matter", where they deal with what happens to the atoms and molecules that make up the world around us.
Sometimes the atoms and molecules condense into relatively well-ordered patterns, such as in crystals or metals or water.
www.abc.net.au /science/k2/moments/s971040.htm   (815 words)

  
 Life Matters - 30/9/2002: Peter Martin - Inequality Inevitable
In Australia the richest TEN per cent of the population owns about HALF the nation's wealth.
Nowhere, it seems, is the distribution of wealth about even.
And more strikingly still, across all societies and all times the distribution of wealth seems to follow the same sort of mathematical pattern.
www.abc.net.au /rn/talks/lm/stories/s687504.htm   (113 words)

  
 Comments on 14232 | MetaFilter   (Site not responding. Last check: 2007-10-22)
Ironically, wealth condensation poses the greatest danger to economies that impose constraints on the accumulation of great wealth - broadly speaking, Socialist economies.
Looking at the Enron scandel, the accumulation of wealth into the pockets of a very few by way of corruption, one has to question how Liberal our economy really is. Republicans have traditionally been the watchdogs of a liberal economy yet are at the heart of the corruption.
i can't imagine an economy based on shared wealth without some sort of governing body or set of rules and punishments to prevent corruption...without something like that there would surely be corruption, just as without any sort of checks on free market economics, the world would quickly be ruled by a tiny handful of Enrons.
www.metafilter.com /comments.mefi/14232   (775 words)

  
 G u r u s o n l i n e - E n g l i s h   (Site not responding. Last check: 2007-10-22)
He argued that in all countries and times the wealth distribution follows a regular logarithmic pattern captured in image as a "tail" - in the right end a small fraction of the population owned the majority of the wealth.
It's common that 90% of the total wealth is owned by only 5 to 15% of the population.
A limitation to wealth condensation is the death of individuals and the corresponding redistribution of wealth.
www.gurusonline.tv /uk/conteudos/bouchaud.asp   (1669 words)

  
 Wealth condensation in a simple model of economy
We introduce a simple model of economy, where the time evolution is described by an equation capturing both exchange between individuals and random speculative trading, in such a way that the fundamental symmetry of the economy under an arbitrary change of monetary units is insured.
The Pareto behaviour of the tails of this distribution appears to be robust for finite range models, as shown using both a mapping to the random `directed polymer' problem, as well as numerical simulations.
An interesting outcome is that the distribution of wealth tends to be very broadly distributed when exchanges are limited, either in amplitude or topologically.
ideas.repec.org /p/sfi/sfiwpa/500026.html   (411 words)

  
 Wealth Condensation Encyclopedia Articles @ HandOverFist.com (Hand Over Fist)   (Site not responding. Last check: 2007-10-22)
Wealth Condensation Encyclopedia Articles @ HandOverFist.com (Hand Over Fist)
Again; it is argued that this will lead to benefits for all, even though it will hurt the second-best in the short term.
At the same time, business assets are becoming more expensive (as measured through decaying PE ratios in the same time frame).
handoverfist.com /encyclopedia/Wealth_condensation   (978 words)

  
 INI : Abstracts : PDS : Wealth condensation as a zero range process   (Site not responding. Last check: 2007-10-22)
We discuss the wealth condensation mechanism in a simple toy economy in which individual agent's wealths are distributed according to a Pareto power law and the overall wealth is fixed.
The observed behaviour is the manisfestation of a transition which occurs in Zero Range Processes (ZRPs) or ``balls in boxes'' models.
An amusing feature of the transition in this context is that the condensation can be induced by {\it increasing} the exponent in the power law, which one might have naively assumed penalized greater wealths more.
www.newton.cam.ac.uk /programmes/PDS/johnston.html   (99 words)

  
 Wealth Creation - Remedies for a Wet Basement
A high water table problem can also be caused by under ground springs or sustained periods of rainfall that cause the water table to rise during the wet seasons.
Condensation occurs when warm, humid air comes into contact with cooler basement walls, floors, water pipes etc. As an example, just take a cold bottle of soda out of your refrigerator and set it on the counter.
This is a classic example of condensation, not “leakage”.
universalwealthcreation.com /article1/remedies-for-a-wet-basement.html   (1056 words)

  
 The Very Top | TPMCafe   (Site not responding. Last check: 2007-10-22)
However it is certainly true that wealth does not increase infinitely fast and if the rich are getting richer faster than the entire society is getting richer then obviously the rich will be impoverishing others.
Some redistribution of wealth is good, because it gives more people a chance to utilize their talents--thereby encouraging more innovation--and because it helps counter some of the (at times cruel) randomness of the market.
I said the real question isn't whether large concentrations of wealth are useful or not, it's how those concentrations should be held and managed--by private individuals, private collectives (investment firms, charitable funds, private pension funds), or public collectives (governments).
www.tpmcafe.com /story/2006/1/28/12544/8245   (7871 words)

  
 ECONOPHYS - KOLKATA I: International Workshop on Econophysics of Wealth Distributions: Abstracts
This is demonstrated by wealth distributions of Germany 1993 and other countries, the distribution of income in Germany between 1950 and 1975 and other countries and the distribution of goods like automobiles in different price classes in Germany 1998.
While the stratification of wealth seems to have a surprisingly small effect on the dynamics, the introduction of a structured population of parallel genetic algorithms appears to amount to an effective decrease of the population (compared to the homogeneous case) and produces realistic time series properties for larger wealth numbers of agents.
These could be implemented in several ways: e.g., (1) in the net amount of wealth that is transferred from one agent to another during an exchange interaction, or (2) the probability of gaining vs. losing a net amount of wealth from an exchange interaction.
www.saha.ac.in /cmp/econophysics/abstracts.html   (7786 words)

  
 LogicalFallacies   (Site not responding. Last check: 2007-10-22)
Finally when the majority of wealth of the politicians is invested into corporations, that gives politicians incentive to support the corporations.
wealth tends to become concentrated in the possession of already-wealthy individuals or entities.
invest in new sources of creating wealth or to otherwise leverage the accumulation of wealth, thus are the beneficiaries of the new wealth.
dks.thing.net /LogicalFallacies.html   (8227 words)

  
 Wealth condensation   (Site not responding. Last check: 2007-10-22)
measuring is the O18:O16 ratio in historical snowfall, and that ratio is determined in part by condensation at the poles, and in part by evaporation in the oceans, and depending on air circulation patterns...
Bose-Einstein condensation in a simple model of economy and emergence of Pareto-tails in wealth dist
Bose-Einstein condensation in a simple model of economy and emergence of Pareto-tails in wealth distributions.
www.ljseek.com /Wealth-condensation_s4.html   (822 words)

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