Physics-inspired analysis of the two-class income distribution in the USA in 1983โ2018
Physics-inspired analysis of the two-class income distribution in the USA in 1983โ2018
The first part of this paper is a brief survey of the approaches to economic inequality based on ideas from statistical physics and kinetic theory. These include the Boltzmann kinetic equation, the time-reversal symmetry, the ergodicity hypothesis, entropy maximization and the Fokker-Planck equation. The origins of the exponential Boltzmann-Gibbs distribution โฆ