Venkat Venkatasubramanian's Books

How Much Inequality Is Fair?

Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

By: Venkat Venkatasubramanian

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How Much Inequality Is Fair?

Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

By: Venkat Venkatasubramanian

Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance on fairness and the ideal distribution of income. Political philosophy, meanwhile, has much to say about fairness yet relies on qualitative theories that cannot be verified by empirical data. To address inequality, we need to know what the goal is—and for this, we need a quantitative, testable theory of fairness for free-market capitalism. How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. The key to this framework is the insight that maximizing fairness means maximizing entropy, which makes it possible to determine the fairest possible level of pay inequality. The framework therefore provides a moral justification for capitalism in mathematical terms. Venkat Venkatasubramanian also compares his theory’s predictions to actual inequality data from various countries—showing, for instance, that Scandinavia has near-ideal fairness, while the United States is markedly unfair—and discusses the theory’s implications for tax policy, social programs, and executive compensation.

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410

Publisher

Columbia University Press

Published Date

ISBN 10

0231543220

ISBN 13

9780231543224

23 European Symposium on Computer Aided Process Engineering

Intelligent Alarm System applied to Continuous Pharmaceutical Manufacturing

By: Anshu Gupta,Aran Giridhar,Ginataras V. Reklaitis,Venkat Venkatasubramanian

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23 European Symposium on Computer Aided Process Engineering

Intelligent Alarm System applied to Continuous Pharmaceutical Manufacturing

By: Anshu Gupta,Aran Giridhar,Ginataras V. Reklaitis,Venkat Venkatasubramanian

One of the important challenges in effective real time process management is the implementation of intelligent systems that can assist human operators in making supervisory control decisions, instead of simply sounding an alarm when process variables go out of range. Operator failures to exercise the appropriate mitigation actions often have an adverse effect on product quality, process safety, occupational health and environment. The challenges and opportunities for improvements are even greater in the pharmaceutical manufacturing domain because of the characteristic features of solid processing. An Intelligent Alarm System (IAS) is developed for monitoring of a continuous dry granulation line. The application of the framework is demonstrated through a case study on a roller compactor. The framework provides information to the operator regarding the detection and diagnosis of exceptional events along with relevant mitigation strategies, with the goal of avoiding the progression of the process to emergency shutdown.

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Elsevier Inc. Chapters

Published Date

ISBN 10

0128085827

ISBN 13

9780128085820

How Much Inequality Is Fair?

Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

By: Venkat Venkatasubramanian

Write a review Read reviews Take a Quiz Solve Book Puzzle

How Much Inequality Is Fair?

Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

By: Venkat Venkatasubramanian

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

410

Publisher

Columbia University Press

Published Date

ISBN 10

0231543220

ISBN 13

9780231543224

Book's by Venkat Venkatasubramanian

How Much Inequality Is Fair?

How Much Inequality Is Fair?

23 European Symposium on Computer Aided Process Engineering

23 European Symposium on Computer Aided Process Engineering

How Much Inequality Is Fair?

How Much Inequality Is Fair?

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