Epstein Secrets

on of the national income shares in the US, noting that the overall share is constant even though sector shares show long-term changes [Young 2010]. Gollin gives a very thorough survey of income shares in more than forty countries [Gollin 2002]. Figure 1.3.8 here [St Louis Fed 2004] We will come back

rom top to bottom. But this still results in a distribution with a large bias giving most of the wealth to a minority of individuals. Going back to the Lotka-Volterra and GLV models discussed in section 1.2, it is better to abandon the predator-prey model of foxes killing rabbits, and instead think in terms of a '

ee-quarters and can be very stable, as discussed in section 1.3 above. Young gives a good discussion of the national income shares in the US, while Gollin gives a very thorough survey of income shares in more than forty countries [Young 2010, Gollin 2002]. In emerging economies 13 can be much lower, a

this is a chaotic model, not a stochastic one. There is no stochasticity in this model. All fluctuations in the model are created endogenously from the Lotka-Volterra like differential equations in the model. Figure 4.3.4 shows the detail of couple of cycles. Figure 4.3.4 here These are real live Minskian / Aus

FT 2011b FT/M 2010 Gabaix 2009 Gaffeo et al 2003 Gallegati et al 2006 gapminder Georgescu-Roegen 1971 Georgia Tech 2010 Glazer & Wark 2001 Gollin 2002 Gould & Tobochnik 2010 Goyenko et al 2009 Griffiths & Tenenbaum 2006 Guardian 2010 Harrison 2005 Harvie 2000 Hayek 1931 Hess & Holzhau

al and ecological scientists have the right mathematical tools for creating a radical and effective new economics, both specifically in the form of the Lotka-Volterra and maximum entropy production models, and more generally in their understanding of complex inter-related evolving systems. Ultimately this maths f