Re: CAMREC: Egalitarianism in a world of power-law distributions

From: the Campaign for Real Economics (camrec@mmu.ac.uk)
Date: Fri Dec 15 2000 - 00:06:51 GMT

  • Next message: the Campaign for Real Economics: "Re: CAMREC: Egalitarianism in a world of power-law distributions"

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    From: the Campaign for Real Economics <camrec@mmu.ac.uk>
    Date: Thu, 14 Dec 2000 18:06:51 -0600
    Subject: Re: CAMREC: Egalitarianism in a world of power-law distributions
    

    Carl,

    At 03:03 PM 12/14/00 -0800, you wrote:
    >Didier Sornette (UCLA?)

    UCLA is correct.

    >As to the synthesis you speak of that should be
    >"pretty simple" in terms of evolutionary approaches
    >(not social darwinist or sociobiology) to economics:
    >diversity (should go together with inequality) ->
    >selection according to characteristics of
    >socio-economic system -> adaptation; change triggers
    >new cycle, overall result sth like progress based on
    >differences the process of which is associated by
    >necessity with different income/wealth.

    I'm not sure I catch your meaning.

    Here is my guess:

    Diversity measured against chaotic selection measures produce system
    adaptation over time (gene pools adapt, monetary pools adapt?)

    > then comes a
    >welfare evaluation trying to figure out optimal rates
    >of change and/or diversity values and you are done.

    Welfare, that's easy to agree upon in general, hard to agree upon in
    detail. Long term welfare? Short term welfare? The majorities
    welfare? The minorities welfare? We all favor ecological protections, but
    few willingly agree to specific restrictions ecological protections require.

    How would you describe 'welfare evalutation'?



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