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To: Thomas M. who wrote (3394)	6/4/2002 4:21:04 PM
From: maceng2	Read Replies (1) \| Respond to of 3536

Distribution of wealth and economics is fairly straightforward as far as I can see. There are just two principle contributors... Vilfredo Pareto, 1848-1923 In the Cours, his main economic contributions was his exposition of "Pareto's Law" of income distribution. He argued that in all countries and times, the distribution of income and wealth follows a regular logarithmic pattern that can be captured by the formula: log N = log A + m log x where where N is the number of income earners who receive incomes higher than x, and A and m are constants. Over the years, Pareto's Law has proved remarkably resilient in empirical studies. That is true all over the world...always has been. If you cut off the heads of the rich new rich will appear. All you can do is flatten out the curve a little by increasing trade. Oh!.. a free open society is needed too. That's what separates the USA from North Korea economy wise. cepa.newschool.edu Say's Law and Supply Side Economics friesian.com A capitalist society provides this from competition. It enhances relative wealth with a nice big supply of everything. As far as I'm concerned, all the rest is guff -g- OK I like Von Mises and Keynes too. But I listen to Pareto and Say first. I prefer math to words. End Of Story. oops...ps I don't like fiat money at all.