Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy

How can we limit wealth disparities while stimulating economic flows in sustainable societies? To examine the link between these concepts, we propose an econophysics asset exchange model with the surplus stock of the wealthy. The wealthy are one of the two exchange agents and have more assets than t...

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Autores principales:	Takeshi Kato, Yoshinori Hiroi
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/471eabb8d8c94488817eba9fdb2c046f
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spelling	oai:doaj.org-article:471eabb8d8c94488817eba9fdb2c046f2021-11-11T07:14:40ZWealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy1932-6203https://doaj.org/article/471eabb8d8c94488817eba9fdb2c046f2021-01-01T00:00:00Zhttps://www.ncbi.nlm.nih.gov/pmc/articles/PMC8568155/?tool=EBIhttps://doaj.org/toc/1932-6203How can we limit wealth disparities while stimulating economic flows in sustainable societies? To examine the link between these concepts, we propose an econophysics asset exchange model with the surplus stock of the wealthy. The wealthy are one of the two exchange agents and have more assets than the poor. Our simulation model converts the surplus contribution rate of the wealthy to a new variable parameter alongside the saving rate and introduces the total exchange (flow) and rank correlation coefficient (metabolism) as new evaluation indexes, adding to the Gini index (disparities), thereby assessing both wealth distribution and the relationships among the disparities, flow, and metabolism. We show that these result in a gamma-like wealth distribution, and our model reveals a trade-off between limiting disparities and vitalizing the market. To limit disparities and increase flow and metabolism, we also find the need to restrain savings and use the wealthy surplus stock. This relationship is explicitly expressed in the new equation introduced herein. The insights gained by uncovering the root of disparities may present a persuasive case for investments in social security measures or social businesses involving stock redistribution or sharing.Takeshi KatoYoshinori HiroiPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 11 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Takeshi Kato Yoshinori Hiroi Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy
description	How can we limit wealth disparities while stimulating economic flows in sustainable societies? To examine the link between these concepts, we propose an econophysics asset exchange model with the surplus stock of the wealthy. The wealthy are one of the two exchange agents and have more assets than the poor. Our simulation model converts the surplus contribution rate of the wealthy to a new variable parameter alongside the saving rate and introduces the total exchange (flow) and rank correlation coefficient (metabolism) as new evaluation indexes, adding to the Gini index (disparities), thereby assessing both wealth distribution and the relationships among the disparities, flow, and metabolism. We show that these result in a gamma-like wealth distribution, and our model reveals a trade-off between limiting disparities and vitalizing the market. To limit disparities and increase flow and metabolism, we also find the need to restrain savings and use the wealthy surplus stock. This relationship is explicitly expressed in the new equation introduced herein. The insights gained by uncovering the root of disparities may present a persuasive case for investments in social security measures or social businesses involving stock redistribution or sharing.
format	article
author	Takeshi Kato Yoshinori Hiroi
author_facet	Takeshi Kato Yoshinori Hiroi
author_sort	Takeshi Kato
title	Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy
title_short	Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy
title_full	Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy
title_fullStr	Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy
title_full_unstemmed	Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy
title_sort	wealth disparities and economic flow: assessment using an asset exchange model with the surplus stock of the wealthy
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/471eabb8d8c94488817eba9fdb2c046f
work_keys_str_mv	AT takeshikato wealthdisparitiesandeconomicflowassessmentusinganassetexchangemodelwiththesurplusstockofthewealthy AT yoshinorihiroi wealthdisparitiesandeconomicflowassessmentusinganassetexchangemodelwiththesurplusstockofthewealthy
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Wealth disparities and economic flow: Assessment using an asset exchange model with the surplus stock of the wealthy

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