Re: econophysics

[Les Schaffer <schaffer@xxxxxxxxxxxxx>]

----- Original Message -----

> how the economic pie is split
> acquired new legitimacy in March when the Saha Institute

The Saha of the Saha equation:

    http://www.webindia123.com/personal/scientist/saha.htm

said equation being one example of an exponential distribution.


>  Exponential
> distribution happens to be the distribution pattern of the energy of
> atoms in gases that are at thermal equilibrium; it's a pattern that
> many closed, random systems gravitate toward. As for the wealthiest 3
> percent, their incomes follow what's called a "power law": there is a
> very long tail in the distribution of data. (Consider the huge gap
> between a lawyer making $200,000 and Bill Gates.)

except there is one thing missing here. in thermal equilibrium, "atoms" are constantly hopping from one wealth bin to another as collisions between the atoms occurs. so while the exponential distribution is maintained in equilibrium, any one given atom will wander all over its "velocity wealth" space, without rest.

now, when Bill Gates and Les Schaffer collide and exchange wealth, Gates always seems to come out ahead a little bit, no matter what. seems kinda unlike atoms, no?

>  current patterns of economic inequality are as natural, and unalterable, as the properties of air
>  molecules in your kitchen.

yea, sure ..... i'd like to think Saha is rolling in his grave.

les schaffer