This paper by Geoff Willis explores economic phenomena using classical economics, modern finance, and Lotka-Volterra models. It explains wealth and income distributions, proposes a compulsory saving scheme to eliminate poverty, and models corporate earnings and commodity prices. The paper introduces a macroeconomic model generating business cycles and derives a formula for the Bowley ratio, suggesting excessive debt increases income inequality. It discusses chaotic systems, statistical mechanics, and the concept of intrinsic value in economics.
documents/EFTA00625129.pdf
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