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IPFS News Link • Books

Equality ? Equal Quality

• lewrockwell.com By Ira Katz

LRC readers might be interested his recent paper that he has sent me, The Physics Basis of Wealth Inequality (published in the Journal of Applied Physics), that purports to prove from physics principles and mathematical analysis that wealth inequality is necessary to wealth creation.

The fundamental concept follows Bejan's Constructal Law that posits that the economy (wealth creation) is a flow system and "for a finite-size flow system to persist in time (to survive) its configuration must evolve (morph) in time in such a way that it provides easier flow access." The empirical evidence he uses are fuel consumed (as a measurable for movement and work) and output of wealth as measured by GDP.  These variables are plotted for various countries (political units) and over time to make the case that "the annual wealth of a population or territory is essentially proportional to the useful energy (or work and movement) generated annually by that group or on that territory." 


www.universityofreason.com/a/29887/KWADzukm