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

he details of income and wealth distributions have rarely been studied in mainstream theoretical economics, a notable and important exception being Champernowne. Champernowne was a highly gifted mathematician who was diverted into economics, he was the first person to bring a statistical mechanical approach

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

ater in economics, this area has attracted physicists and statistical mathematicians and engineers in significant numbers since at least the work of Champernowne. The reason is simple; to a statistical physicist, economics is obviously a multi-body phenomenon. It is messy. There are millions of agents in a t

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

lots of boundary conditions, may be simple enough to be tractable to a traditional statistical mechanical analysis on the lines of Dewar, or indeed Champernowne. Before moving into further discussion I would first like to follow the maths through a little more. I would like to do two things. Firstly I would