On the Monetary Causes of Inequality: A Review of the Literature and an Alternate Way Forward

Marco Desogus and Elisa Casu

MPRA Paper from University Library of Munich, Germany

Abstract: This research re-examines the relations between production, money and income and arrives at a need for reform, through a contemporary money theory, with the same foundations that endow the system of the numerical entity that measures the economy. The analysis undertaken began from the “Econophysics” observation that wealth is unequally distributed among agents in an economic system. The literature has consolidated the concept of ‘systemic entropy’ as the degree of endogenous ‘disorder’ that occurs with the succession of interactions/transactions among its elements, leading to a stabilization in equilibrium that is no longer modifiable by spontaneous perturbations, even though there is clear evidence of profound inequality in individual wealth. The contribution offered here is an in-depth investigation into the causes that have led and continue to lead to the genesis and exacerbation of these socio-economic differences, which also convey an exclusion of the less wealthy sectors of the population from the most significant transactions. This ordains the impossibility, at the current state of the art, of achieving a neg-entropic practice, which is fundamental to the evolution of organisms. The point of arrival is in the negation of the monetary structure as currently perceived and organized.

Keywords: Econophysics; Quantum Macroeconomics; Monetary Structure; Economic Systems; Inequalities; Production, Money and Income (search for similar items in EconPapers)
JEL-codes: C62 D63 E42 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in International Journal of Economics, Finance and Management Sciences 4.8(2020): pp. 156-167

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:114362

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