IP: In a new economy, free markets & low taxes make the poor richer

[Dave Farber <farber () cis upenn edu>]

> Date: Wed, 23 Aug 2000 13:20:17 -0400
> To: politech () politechbot com
> From: Declan McCullagh <declan () well com>
>
>
>
> *******
>
> Date: Wed, 23 Aug 2000 10:13:51 +0100
> > To: declan () well com
> > From: "Charles Arthur, The Independent" <carthur () independent co uk>
> > Subject: Why the rich get richer... it's mathematical
> >
> > Hi Declan...
> >
> > Perhaps off your beaten track, but really really interesting. An article in
> > New Scientist magazine about "econophysics" - basically, trying to build
> > economics from the ground up. Easier to read in paper form, but here's the
> > URL:
> >
> > http://www.newscientist.com/features/features.jsp?id=ns225217
> >
> > Interestingly it says that in a low-friction economy (ie where you don't
> > have to pay taxes/duties/trading costs on exchanges) you tend to get a
> > division of wealth which is *more* equal. Low taxes => socialism? Who would
> > have thought?
> >
> > The implications are fascinating, and it's a well-written article.
> >
> >         best
> >         Charles
> >
> >  -------------------------------------------------------------------
> > The Independent newspaper on the Web: http://www.independent.co.uk/
> >         It's even better on paper
> > Live in the US? Get a new worldview: http://www.independenceavenue.com