Social and economic inequality is one of the greatest challenges of the 21st century. Wealth and income are increasingly concentrated in the hands of a few, while the vast majority of society has access to only a limited share of resources. This troubling situation has been the focus of studies by economists, mathematicians, and physicists alike. One approach, econophysics, applies models of market dynamics, positing that wealth distribution results from exchanges between economic agents. A simple analogy equates trade in a society with energy exchanges between molecules during collisions in a physical system. However, unlike physical systems, where the principle of equipartition of energy holds, most economic exchange models lead to a highly unequal “condensed” state, where one or a few agents accumulate nearly all of the wealth, leaving the majority with little to none.

This presentation provides an overview of the historical evolution of inequality, from the foundational work of Vilfredo Pareto to more recent global inequality data and market models. We will also explore various strategies to prevent the emergence of the ”condensed” state, which will be expanded upon by the following speakers. These strategies include mechanisms that favor poorer agents in wealth exchanges, thereby increasing the likelihood of wealth being transferred from richer to poorer agents. Additionally, we will examine the impact of regulatory policies, such as taxation, on wealth distribution. Through comparisons of different redistribution methods, we conclude that significant reductions in inequality can be achieved through relatively simple tax and regulatory interventions.