The Effect of Allocative Efficiency of Free Markets on Entropy and its Implications on Taxes
This article shows that the entropy in a free market is maximized under the allocative efficiency condition. In contrast to that, it is shown that any pre-determined allocation, as it is the case with the collection and distribution of taxes, exhibits a higher probability of minimizing the entropy i...
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| Format: | Article |
| Language: | English |
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Athens Institute for Education and Research
2019-10-01
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| Series: | Athens Journal of Business & Economics |
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| Online Access: | https://www.athensjournals.gr/business/2019-5-4-2-Unger.pdf |