[Here’s the article.](https://www.scientificamerican.com/article/is-inequality-inevitable/)
I am just looking to find out if inequality is inevitable.
In: 4
Basically, they made a model of economy, where everything is decided by chance (skill and “hard work” is ignored) and found out that with time a few people will hoard all wealth.
They also added few parameters, like “wealth advantage” (gives slight advantage to wealthy) and “wealth redistribution” (takes some money from wealthy and gives them to the poor) and were able to replicate the data from the real world.
Now, the title is a little clickbaity – it doesn’t actually say if inequality inevitable or not. But it does make a few conclusions:
* The economy is not a meritocracy. The wealthy people are not necessary smarter, more skilled or more hardworking than the poor.
* Redistribution of wealth is necessary to stop few people from eventually hoarding all wealth in the country.
At least, that’s what I got from the article. Correct me, if I’m wrong.
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