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

[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
>
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