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Money: Physics and Distributive Justice: A Novel Prespective Exploring Economic Inequality Through Physics and Statistics (Non Fiction Popular Science book)

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Can physics explain the economy? Many people believe that there is a lot of money in the world and that its distribution among people is unjust. Most people also believe that the reason for economic crises is an inherent illness of the system or the result of misguided or even tricky actions that can be avoided.In this book, it is argued that the amount of money in develo Can physics explain the economy? Many people believe that there is a lot of money in the world and that its distribution among people is unjust. Most people also believe that the reason for economic crises is an inherent illness of the system or the result of misguided or even tricky actions that can be avoided.In this book, it is argued that the amount of money in developed countries is zero, the income distribution among people is purely statistical, and that volatility in the economy is inevitable, just like the fluctuation in our mood. Why are very few people so rich and many so poor, and why do CEO’s make so much money? We show that income distribution is the universal distribution that also exists in many other phenomena, e.g., the distribution of voters among parties, the distribution of buyers of books, and the distribution of the number of residents in cities. It also exists in the frequency of digits in data files, the frequency of earthquakes according to their intensity, and many other random phenomena. This easy-to-calculate universal distribution well predicts the economic inequality as reflected in the Gini Index, the relative percentage of the poor, the salaries of CEOs, and the fraction of wealth held by the richest.The book is of interest to a wide audience of economists, sociologists, politicians, and the general public alike. It relies on theories from physics and economics, and its contents are based on scientific publications, whose references are at the end of the book. Scroll up now to get your copy of Money: Physics and Distributive Justice!


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Can physics explain the economy? Many people believe that there is a lot of money in the world and that its distribution among people is unjust. Most people also believe that the reason for economic crises is an inherent illness of the system or the result of misguided or even tricky actions that can be avoided.In this book, it is argued that the amount of money in develo Can physics explain the economy? Many people believe that there is a lot of money in the world and that its distribution among people is unjust. Most people also believe that the reason for economic crises is an inherent illness of the system or the result of misguided or even tricky actions that can be avoided.In this book, it is argued that the amount of money in developed countries is zero, the income distribution among people is purely statistical, and that volatility in the economy is inevitable, just like the fluctuation in our mood. Why are very few people so rich and many so poor, and why do CEO’s make so much money? We show that income distribution is the universal distribution that also exists in many other phenomena, e.g., the distribution of voters among parties, the distribution of buyers of books, and the distribution of the number of residents in cities. It also exists in the frequency of digits in data files, the frequency of earthquakes according to their intensity, and many other random phenomena. This easy-to-calculate universal distribution well predicts the economic inequality as reflected in the Gini Index, the relative percentage of the poor, the salaries of CEOs, and the fraction of wealth held by the richest.The book is of interest to a wide audience of economists, sociologists, politicians, and the general public alike. It relies on theories from physics and economics, and its contents are based on scientific publications, whose references are at the end of the book. Scroll up now to get your copy of Money: Physics and Distributive Justice!

26 review for Money: Physics and Distributive Justice: A Novel Prespective Exploring Economic Inequality Through Physics and Statistics (Non Fiction Popular Science book)

  1. 4 out of 5

    Jaideep Khanduja

    http://pebbleinthestillwaters.com/mon... Money Physics and Distributive Justice - Great Source of Learning This book is fabulous in clearing all your concepts about money. That is why the name Money Physics and Distributive Justice. If you think money is only the cash that our government prints that go out for circulation, then it is wrong. In fact, cash is hardly a minuscule portion of that. Isn't that good enough reason to grab this book by Oded Kafri? I was highly curious while starting this bo http://pebbleinthestillwaters.com/mon... Money Physics and Distributive Justice - Great Source of Learning This book is fabulous in clearing all your concepts about money. That is why the name Money Physics and Distributive Justice. If you think money is only the cash that our government prints that go out for circulation, then it is wrong. In fact, cash is hardly a minuscule portion of that. Isn't that good enough reason to grab this book by Oded Kafri? I was highly curious while starting this book to understand what else constitutes money in a country. Or in the world, for that sake. Even you won't get a proper definition in any of the dictionaries. Rather those tell about its usage, in fact. As a matter of fact, in next few years, currencies will stop floating in the market. Most of our cash will reside in banks. But we will still be buying and selling. The give and take of money will be cashless. Even now when we use credit/debit card to make a payment, no cash moves from one hand to another. The same is the case when we use smartphone applications. Isn't it amazing? All this happens without physical movement of money? And how this happens? So, as the author, Oded Kafri explains in the book Money Physics and Distributive Justice that it is important to understand the economic network. Now, imagine that a lot of purchases are happening in the world. And there is no movement of physical money. All the money remains in the banks. Every transaction impacts the respective account books of buyers and sellers. What it implies is that the net amount in any country is effectively zero. Because if one is buying, another is selling. The overall impact is nil. It only adds a figure in one account. And subtracts from another. Astonishing. Isn't it? It is just a game of changes in respective balances. That means whenever you trade anything, it is just a matter of change in balances. While the net or aggregate remains unchanged. As a matter of fact, this is just the beginning of Money Physics and Distributive Justice by Oded Kafri. There are ample real-life examples in the book to explain each and every transaction. Whether it is loans, salaries, purchases, selling, or whatever we do with money, is quite convincingly explained. So if every individual is a node, there will be some busy nodes (rich people) and some slow-moving nodes (poor people). As you move ahead, you find an amazing relationship between economy and physics. You will be very easily able to correlate photon, equilibrium, energy particles, light, heat, etc. that we study in Physics and a deep connection of these terms with economy and money. To summarize, Money Physics and Distributive Justice by Oded Kafri is a must read for everybody on this earth irrespective of age, country, profession, or any other factor. Because money is a common factor among us all.

  2. 4 out of 5

    Melanie S

    Physics is economically empowering - who knew? I'm like a lot of reasonably intelligent and reasonably well-educated Americans. I read government statistics on the economy with jaundiced eyes, convinced that they are generated for political more than economic purposes. Treatises on economics, reports on the declining value of exports expressed as a percentage of GDP, blah, blah, blah... It's obscure, boring and doesn't explain why the rich get richer, and there's only so much energy left for outr Physics is economically empowering - who knew? I'm like a lot of reasonably intelligent and reasonably well-educated Americans. I read government statistics on the economy with jaundiced eyes, convinced that they are generated for political more than economic purposes. Treatises on economics, reports on the declining value of exports expressed as a percentage of GDP, blah, blah, blah... It's obscure, boring and doesn't explain why the rich get richer, and there's only so much energy left for outrage at the end of the endless workday. I picked up on this book after another round of fruitless argument with Son #3, the unemployed Economics major. It's taken me 2 weeks to push through it, but - ZOT!! The light flashed on when I finished it. The persistence of poverty despite Lyndon Johnson's declaration of war is not a "problem" to be solved or an "enemy" to be defeated. Economic inequality is not the product of political machination or a plot hatched by a cabal of multi-national corporations. It's a naturally-occuring statistical distribution derived from the second law of thermodynamics. Now, I'm not a physicist, but I did a year of undergrad physics back in the day, and I liked it. Physics makes sense; it explains and predicts the nature of physical reality. I can follow Dr. Kafri's arguments and make sense of them, and his use of heat energy as the model for a dynamic economic system is elegantly simple and accessible, as well as reliably predictive. It's also somewhat freeing in that I have a clearer picture of the actual hidden befits to seemingly stupid government policies and a better understanding of where to direct my own personal economic and political activities in order to make some (admittedly minor) difference in the status quo. As to how influential in the world of professional economists Dr. Kafri's work will prove? Google "Ignaz Semmelweis" for a likely scenario.

  3. 4 out of 5

    Kshitij

    This book has a very interesting premise. Physics is the study of laws of nature. Economics is the study of money and finance. Can it be explained through the laws of physics? More importantly distributive justice. Oded Kafri says that the concept of money has not been defined and hence economics is centuries behind the hard sciences. Now he presents the concept of money as two of physics principles: 1. Money as Energy- the Gas Economy : This is similar to Maxwell-Boltzman bell curve. But this con This book has a very interesting premise. Physics is the study of laws of nature. Economics is the study of money and finance. Can it be explained through the laws of physics? More importantly distributive justice. Oded Kafri says that the concept of money has not been defined and hence economics is centuries behind the hard sciences. Now he presents the concept of money as two of physics principles: 1. Money as Energy- the Gas Economy : This is similar to Maxwell-Boltzman bell curve. But this concept has many issues. 2. Money as Heat: This is a better system. There are many interesting concepts like in near future there will be no cash transfers. The distribution of money of a nation is universal and independent of total wealth of a nation. The system of constraints weather by Governments or religion or moral principles tries to limit money’s movement. The author claims that it is widely agreed nowadays that wealth should not be equally distributed. The book is interesting but somewhat farfetched. There may be a parallel between energy or heat and money movement but it made the book very complex. It assumed that the reader is well versed with both Physics and economics. Though the author gives a disclaimed that this knowledge is not required, that is not correct. The book is more for an academic exercise and amusement and not for general readers. Still the book gives some interesting points to ponder. 3/5 stars.

  4. 4 out of 5

    Píaras Cíonnaoíth

    A thought-provoking and interesting read... A growing number of physicists have been turning their attention to what is now called sociophysics. It describes the application of ideas from physics, particularly from statistical mechanics, to problems in sociology (e.g. opinion formation and voting patterns), town-planning (e.g. traffic flow and pedestrian motion), economics, and finance. This book will be of particular interest to economists, sociologists and academics. A challenging read for thos A thought-provoking and interesting read... A growing number of physicists have been turning their attention to what is now called sociophysics. It describes the application of ideas from physics, particularly from statistical mechanics, to problems in sociology (e.g. opinion formation and voting patterns), town-planning (e.g. traffic flow and pedestrian motion), economics, and finance. This book will be of particular interest to economists, sociologists and academics. A challenging read for those of us who are not well versed in physics or economics, but an interesting read all the same.

  5. 5 out of 5

    Bob Morton

    “GIVE me a one-handed economist,” demanded president Truman. “All my economists say, ‘on the one hand...on the other'”. This book is not like that as it takes a stand, I am just not sure where the stand is. I received a review copy of this book, what follows is an honest review. I thought that the college classes I had taken in micro and macro economics and physics would have prepared me for this book. I think I came out a little bit more confused then when I went in. I am not sure where the aut “GIVE me a one-handed economist,” demanded president Truman. “All my economists say, ‘on the one hand...on the other'”. This book is not like that as it takes a stand, I am just not sure where the stand is. I received a review copy of this book, what follows is an honest review. I thought that the college classes I had taken in micro and macro economics and physics would have prepared me for this book. I think I came out a little bit more confused then when I went in. I am not sure where the author was going with this. At times it read like a textbook. At times it read like a series of blog posts. Sometimes he seemed to be talking about politics, other times it was deep into the subject. At places he said, if this confuses you do not read it. Then he turns around and develops off of that. If you have a strong background in physics, not the entry level kind, this book might make a little bit more sense to you that it did to me. In which case, you might enjoy it. I am not sure who else I could recommend it to.

  6. 4 out of 5

    Casey Woolley

  7. 5 out of 5

    Subhajit Das

  8. 4 out of 5

    Tina Brossow

  9. 5 out of 5

    Leon L. Phelps

  10. 5 out of 5

    Lamar

  11. 4 out of 5

    Andrea

  12. 5 out of 5

    Linda Marfuggi

  13. 5 out of 5

    deborah lasher

  14. 5 out of 5

    Jerry Walch

  15. 4 out of 5

    Maryann

  16. 5 out of 5

    ZZcat

  17. 4 out of 5

    rock p. wood

  18. 5 out of 5

    John A. Harris

  19. 4 out of 5

    Mary Jones

  20. 4 out of 5

    Christine Liddle

  21. 4 out of 5

    Crystal

  22. 4 out of 5

    chiranjibi

  23. 4 out of 5

    Kyle

  24. 5 out of 5

    Mohamed

  25. 4 out of 5

    Shelley

  26. 5 out of 5

    Jin Choi

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