Distributive Justice and the Second Law

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Distributive Justice and the Second Law

July 21, 2021 Economics and Management 0

Economic inequality in OECD countries, as well as top executive salaries in Fortune 100 companies, are, in our opinion, merely an equilibrium statistical outcome derived from the second law of thermodynamics. The energy distribution among photons in a blackbody follows a power-law distribution (Pareto law, Zipf Law, and Benford Law). This distribution yields correctly: the Gini index, the ratio between rich and poor, the relative poverty, the part of the property held by the upper percentiles. In addition, as a function of the number of employees and average wage, the remuneration of CEOs of Fortune 100 businesses follow the same pattern. As a result, it is concluded that wealth is distributed randomly in free economies using blackbody statistical mechanics.

Author (S) Details

Oded Kafri
Kafri Nihul Ltd., Tel Aviv, Israel.

Eli Fishof
Israeli Army- Retired Colonel, Israeli.

View Book :- https://stm.bookpi.org/IEAM-V12/article/view/2067

 

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