The Advantage of Capitalism vs. Socialism Depends on the Criterion
Zapiski Nauchnykh Seminarov POMI, Probability and statistics. Part 9, Tome 328 (2005), pp. 160-168
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Talk given at the Linnik symposium, St. Petersburg, April 2005. We consider two distinct government tax policies towards companies: the republican policy gives tax breaks to the richer companies while the democratic policy would perhaps give breaks to the weaker companies in hopes to keep them alive and so reduce unemployment. Which policy is better? We show that it depends on the criterion of optimization, at least for the case of two companies, which is all that we can handle, in the stated mathematical formulation of the question.
@article{ZNSL_2005_328_a8,
author = {H. P. McKean and L. A. Shepp},
title = {The {Advantage} of {Capitalism} vs. {Socialism} {Depends} on the {Criterion}},
journal = {Zapiski Nauchnykh Seminarov POMI},
pages = {160--168},
year = {2005},
volume = {328},
language = {en},
url = {http://geodesic.mathdoc.fr/item/ZNSL_2005_328_a8/}
}
H. P. McKean; L. A. Shepp. The Advantage of Capitalism vs. Socialism Depends on the Criterion. Zapiski Nauchnykh Seminarov POMI, Probability and statistics. Part 9, Tome 328 (2005), pp. 160-168. http://geodesic.mathdoc.fr/item/ZNSL_2005_328_a8/