Laser Welfare: First Steps in Econodynamic Engineering

Geoff Willis

Microeconomics from University Library of Munich, Germany

Abstract: The paper starts with a brief review of present understanding of income distributions; especially with regard to recent work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of alternative energy distributions found in physical systems are discussed, and how they could be used to construct economic models that might allow alternative overall distributions of wealth and income in society. These ideas are further expanded and a more detailed scheme for welfare assistance is proposed that might be used to improve the incomes of the poorest in a more efficient way than traditional welfare schemes. Finally, and unusually for a paper on economics; an experiment is proposed that could be used to either support or disprove the ideas discussed in the rest of the paper.

Keywords: Income distribution; Welfare; Boltzmann distribution; econophysics; econodynamics (search for similar items in EconPapers)
JEL-codes: D1 D2 D3 D4 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2004-08-19
Note: Type of Document - pdf; pages: 26 , 7
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https://econwpa.ub.uni-muenchen.de/econ-wp/mic/papers/0408/0408003.pdf (application/pdf)

Related works:
Working Paper: Laser Welfare: First Steps in Econodynamic Engineering (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpmi:0408003

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