Hi John,
Since scale factors depend upon the units, it probably makes sense to simply set the unit as one dollar. As for the meaning of "equality" as proposed by progressives, they generally refer to "equality of outcome", while never getting too specific. I attempt to show (what should be obvious) that absolute equality is both impossible, misleading, even fraudulent, and if the claim is persisted in, then one should suspect it to be a smokescreen behind which a two-class structure is being planned.
Before the corrupt current system began grinding things to a halt, there was considerable economic mobility. Those with little or no wealth could acquire wealth, while earned or inherited wealth could be lost. There was no "too big to fail". We agree that equality of outcomes is impossible in the long term. Supply/demand would not seem to make much sense in such a situation.
I agree that people seem unwilling to allow failure. As failure is an error signal from a control theory perspective, that means that this crucial information is not available for purposes of correcting the error. Not good...
Equipartition is not implied or assumed in equation (1). It is assumed in the "equal" distributions.
As I discussed with Earle Fox above, I'm not proposing a government program to pay people to learn, rather a reinvention of our economic system based on major changes. It may have been a mistake to even mention it in only one page, but I wanted to convey the idea that there are alternatives. I would not design a government program to do anything, as government bureaucracies are the closest thing to eternal life we have on this earth.
My point in the essay was to show why "equality of outcome" is impossible, even absurd. This does NOT tell us what the best way to shape the distributions to reduce the spread of inequality. That is a much tougher problem.
Thanks for reading and commenting on my essay.
With best regards,
Edwin Eugene Klingman