The simple math of the Yard-Sale Model shows that if everybody started out with equal money in a fair economy, the outcome tends toward one person holding all of the money. The cool graphical simulations on this page demonstrate why.
The simple math of the Yard-Sale Model shows that if everybody started out with equal money in a fair economy, the outcome tends toward one person holding all of the money. The cool graphical simulations on this page demonstrate why.
It’s even more realistic when the banker is stealing money!
True, but the point of the simulations is basically debunking the idea that even when capitalism “works”. IE the hypothetical perfect scenereo where everyone starts off with the same, has the same chances of getting good and bad opprotunities, that the the fairness systematically fades out of the system the longer the game runs.
I recall an economics class once where they started out playing monopoly, but giving everyone different starting amounts of money… and basically demonstrating that well over 90% of the time… the advantages basically determined the game.