Socio-economic inequality and prospects of institutional Econophysics

Arnab Chatterjee, Asim Ghosh and Bikas K Chakrabarti

Papers from arXiv.org

Abstract: Socio-economic inequality is measured using various indices. The Gini ($g$) index, giving the overall inequality is the most commonly used, while the recently introduced Kolkata ($k$) index gives a measure of $1-k$ fraction of population who possess top $k$ fraction of wealth in the society. This article reviews the character of such inequalities, as seen from a variety of data sources, the apparent relationship between the two indices, and what toy models tell us. These socio-economic inequalities are also investigated in the context of man-made social conflicts or wars, as well as in natural disasters. Finally, we forward a proposal for an international institution with sufficient fund for visitors, where natural and social scientists from various institutions of the world can come to discuss, debate and formulate further developments.

Date: 2016-11, Revised 2016-11
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1611.00723

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