Epstein Secrets

e y-axis shows the number of people in each wage band. As can be seen this shape has a large bulge tow

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 '

e 7.2.1. below. Figure 7.2.1 here So one narrow band of similar distribution results becomes so likely

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

0 200 400 600 800 1000 1200 1400 Income Band Figure 1.1.2 - UK Income Data 20021 • • • 200

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