The Wealth Gap

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BBC has been doing a documentary on the widening Wealth Gap in the world, I have a problem with the portrayal of the issue. I am not wealthy, far from it so I am not arguing for the sake of taking the opposite opinion, but I just think documentaries need to be unbiased. I had referred to Daniel Kahneman's new book Thinking, Fast and Slow. If you have not yet read it I would highly encourage you to get that book into your reading list. He addresses this issue, he says there is a huge difference in income between people because some people care more about having a high income vs those who do not. I am not saying it is a good thing, what is bad is lack of opportunities for those who want to climb the ladder of wealth, if for whatever reason that does not manifest itself then we have social unrest. I believe the opportunities are always there, all the post that I have written about entrepreneurs is geared towards that, I fundamentally believe everybody can do anything they set their mind to. Your focus determines your reality, if we focus on all the unfairness in the world then we feel miserable and depressed, however if one looks at all the opportunities that exist and all the problems that still need to be solved, then one gets a sense of purpose. I have discovered my purpose, I want to empower entrepreneurs to achieve their highest goals. Been doing that in whatever way I can. So if you are an entrepreneur or want to be one, contact me. I am always available to meet entrepreneurs.

Related articles

• Who runs your life? (workingwithact.com)
• Thinking, Fast and Slow by Daniel Kahneman (booktopia.com.au)
• The Wealth Gap - Inequality in Numbers (bbc.co.uk)
• Wealth Gap Widening Between Lawmakers and Constituents (theroot.com)

Icelandic Krona vs US Dollar - A Power Law Distribution

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The Icelandic Krona currency exchange index follows the Power Law, it can be seen in the most rudimentary of analysis...

Here is the analysis of ISK-USD exchange rate data for however long I could get, a simple histogram shows visually that the exchange rate is distributed by a power law. In addition, I was able to do a Log plot of the observations and it clearly follows a path that should give us

enough indication that the ISK exchange does not follow a Normal "Bell" curve distribution.

However, last week I was talking to a currency trader and he told me that before the crash of the Icelandic Krona last year, they calculated the proabability of ISK crashing and they found it to be a 8 sigma (read highly unlikely! or A Black Swan) event... the fact that it happened proves atleast to me that the methods and theory used to analyze the ISK is not correct. I am writing a paper with Dr.Helgi Tomasson with University of Iceland with the title "Can Power Law help us avoid the highly improbable tail events?" hopefully we will be able to answer the above question.

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