DeepAI AI Chat
Log In Sign Up

Wealth Redistribution and Mutual Aid: Comparison using Equivalent/Nonequivalent Exchange Models of Econophysics

12/31/2022
by   Takeshi Kato, et al.
0

Given the wealth inequality worldwide, there is an urgent need to identify the mode of wealth exchange through which it arises. To address the research gap regarding models that combine equivalent exchange and redistribution, this study compares an equivalent market exchange with redistribution based on power centers and a nonequivalent exchange with mutual aid using the Polanyi, Graeber, and Karatani modes of exchange. Two new exchange models based on multi-agent interactions are reconstructed following an econophysics approach for evaluating the Gini index (inequality) and total exchange (economic flow). Exchange simulations indicate that the evaluation parameter of the total exchange divided by the Gini index can be expressed by the same saturated curvilinear approximate equation using the wealth transfer rate and time period of redistribution and the surplus contribution rate of the wealthy and the saving rate. However, considering the coercion of taxes and its associated costs and independence based on the morality of mutual aid, a nonequivalent exchange without return obligation is preferred. This is oriented toward Graeber's baseline communism and Karatani's mode of exchange D, with implications for alternatives to the capitalist economy.

READ FULL TEXT

page 1

page 2

page 3

page 4

06/11/2022

Islamic and capitalist economies: Comparison using econophysics models of wealth exchange and redistribution

Islamic and capitalist economies have several differences, the most fund...
01/09/2020

Forecasting NIFTY 50 benchmark Index using Seasonal ARIMA time series models

This paper analyses how Time Series Analysis techniques can be applied t...
06/01/2021

A mixed-frequency approach for exchange rates predictions

Selecting an appropriate statistical model to forecast exchange rates is...
01/20/2023

About constant-product automated market makers

Constant-product market making functions were first introduced by Hayden...
05/19/2020

On the Theoretical Properties of the Exchange Algorithm

Exchange algorithm is one of the most popular extensions of Metropolis-H...
08/09/2018

Non-Interfering Concurrent Exchange (NICE) Networks

In studying the statistical frequency of exchange in comparison-exchange...
03/03/2021

Optimal Kidney Exchange with Immunosuppressants

Algorithms for exchange of kidneys is one of the key successful applicat...