• Corpus ID: 159337194

Piketty's second fundamental law of capitalism as an emergent property in a kinetic wealth-exchange model of economic growth

  title={Piketty's second fundamental law of capitalism as an emergent property in a kinetic wealth-exchange model of economic growth},
  author={David Santiago Quevedo and C. J. Quimbay},
  journal={arXiv: General Finance},
We propose in this work a kinetic wealth-exchange model of economic growth by introducing saving as a non consumed fraction of production. In this new model, which starts also from microeconomic arguments, it is found that economic transactions between pairs of agents leads the system to a macroscopic behavior where total wealth is not conserved and it is possible to have an economic growth which is assumed as the increasing of total production in time. This last macroeconomic result, that we… 
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