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The distribution of wealth and income is never uniform, and philosophers and economists have tried for years to understand the reasons and formulate remedies for such inequalities. This book introduces the elegant and intriguing kinetic exchange models that physicists have developed to tackle these issues. This is the first monograph in econophysics focussed on the analyses and modelling of these distributions, and is ideal for physicists and economists. It is written in simple, lucid language, with plenty of illustrations and in-depth analyses, making it suitable for researchers new to this field as well as specialized readers. It explores the origin of economic inequality and examines the scientific steps that can be taken to reduce this inequality in the future.

statistiek --- Statistical physics --- economie --- fysica --- Economics --- Income distribution --- Wealth --- Econophysics --- Statistical methods --- Statisical methods --- Physics --- General and Others --- Income distribution. --- Wealth. --- Econophysics. --- Affluence --- Distribution of wealth --- Fortunes --- Riches --- Business --- Finance --- Capital --- Money --- Property --- Well-being --- Distribution of income --- Income inequality --- Inequality of income --- Distribution (Economic theory) --- Disposable income --- Income distribution - Statistical methods --- Wealth - Statisical methods

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This volume analyzes two decisive factors that have become embedded in the world spread of capitalism, a shift toward dominance of the financial sector, now entailing massive greed and calling into question whether the rules of capitalism have been broken, and of global wage differentials so deep that recognition of a labor aristocracy cannot be avoided. These chapters are supplemented by two additional showing that gold still regulates the dollars value, and that unpaid reproductive labor of women adversely affects labor productivity. Analysis of finance engenders discussion of its place in value theory, posed around the rate of profit, and is more complex than often presented. Furthermore, the varying rates of profit at the firm level, not just for financials, are distributed in a manner exhibiting more frequent extreme cases than a Bell-curve would suggest. Implications for incorporation of randomization into political economy are drawn. The final chapters provide evidence that Marx was more correct than Kalecki and Minsky when arguing the lead of profits for investment, and that product innovations can mitigate problems of over-production resulting from process innovations.

Institutional economics. --- Marxian economics. --- Mixed economy. --- Business & Economics --- Economic Theory --- Capitalism. --- Finance. --- Income distribution. --- Distribution of income --- Income inequality --- Inequality of income --- Funding --- Funds --- Market economy --- Distribution (Economic theory) --- Disposable income --- Economics --- Currency question --- Profit --- Capital --- Capitalism --- Finance --- Income distribution --- Marxian economics --- Financial crises --- E-books --- Economic schools --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Marxist economics --- Communism --- Schools of economics --- Socialism

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This Selected Issues paper analyzes household savings ratio in Spain. The household savings ratio has fallen to its lowest historical rate in 2012, as households cut back savings to support consumption in response to negative income shocks. Household savings fell across all households, but the declines were likely more material among lower income and highly indebted groups. Declining household income and savings slowed deleveraging and put household balance sheets under pressure. Looking ahead, households may need to restrain consumption further to free resources for repaying debt. Household savings rates will likely stay below historical levels for some time then slowly increase.

Spain --- Economic policy. --- Economic conditions. --- Banks and Banking --- Exports and Imports --- Finance: General --- Macroeconomics --- Public Finance --- Demography --- Personal Income, Wealth, and Their Distributions --- Bankruptcy --- Liquidation --- Social Security and Public Pensions --- Fiscal Policy --- Trade: General --- Finance --- Pensions --- International economics --- Financial administration & public finance law --- Solvency --- Disposable income --- Pension spending --- Fiscal law --- Personal income --- Financial sector policy and analysis --- National accounts --- Expenditure --- Fiscal policy --- Debt --- National income --- Income --- Finance, Public --- Law and legislation

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This Selected Issues paper elaborates findings and discussions of 2013 Cluster Consultation Nordic Regional report. The countries have close economic and financial ties and face some common challenges and shared risks, such as large banking sectors and high household debt. The economic performance of the four continental Nordic economies (Denmark, Finland, Norway, and Sweden—Nordic-4) ranks among the advanced economic development circle. It is analyzed that the large Nordic banking systems support relatively high levels of private sector debt. House price developments in the Nordic-4 pose a risk to broader macroeconomic stability in the context of strained household balance sheets.

Economics --- Economic theory --- Political economy --- Social sciences --- Economic man --- Europe, Northern --- Northern Europe --- Economic conditions. --- Banks and Banking --- Financial Risk Management --- Investments: Bonds --- Real Estate --- Infrastructure --- Macroeconomics --- Housing Supply and Markets --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: Government Policy and Regulation --- General Financial Markets: General (includes Measurement and Data) --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Personal Income, Wealth, and Their Distributions --- Property & real estate --- Banking --- Economic & financial crises & disasters --- Investment & securities --- Housing prices --- Commercial banks --- Deposit insurance --- Covered bonds --- Prices --- Financial institutions --- National accounts --- Disposable income --- Banks and banking --- Crisis management --- Bonds --- Saving and investment --- National income --- Sweden

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The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal policies on income inequality in a panel of advanced and emerging market economies over the last three decades, complemented by a case study of selected consolidation episodes. The paper shows that fiscal consolidations are likely to raise inequality through various channels including their effects on unemployment. Spending-based consolidations tend to worsen inequality more significantly, relative to tax-based consolidations. The composition of austerity measures also matters: progressive taxation and targeted social benefits and subsidies introduced in the context of a broader decline in spending can help offset some of the adverse distributional impact of consolidation. In addition, fiscal policy can favorably influence long-term trends in both inequality and growth by promoting education and training among low- and middle-income workers.

Economic policy. --- Fiscal policy. --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Government policy --- Macroeconomics --- Distribution: General --- Equity, Justice, Inequality, and Other Normative Criteria and Measurement --- Taxation, Subsidies, and Revenue: General --- Education and Inequality --- Government Policy --- Provision and Effects of Welfare Program --- Aggregate Factor Income Distribution --- Personal Income, Wealth, and Their Distributions --- Fiscal Policy --- Income inequality --- Income distribution --- Fiscal consolidation --- Disposable income --- Personal income --- National accounts --- Fiscal policy --- National income --- Income --- Ireland