[daxat_staglatz]

Power laws in economics [0]:

    Many of the insights of economics seem to be
    qualitative, with many fewer reliable quantitative laws.
    However a series of power laws in economics do count as
    true and nontrivial quantitative laws—and they are not
    only established empirically, but also understood
    theoretically.
    I will start by providing several illustrations of
    empirical power laws having to do with patterns involving
    cities, firms, and the stock market. I summarize some of
    the theoretical explanations that have been proposed.
    I suggest that power laws help us explain many economic
    phenomena, including aggregate economic fluctuations.
    I hope to clarify why power laws are so special, and to
    demonstrate their utility.
    In conclusion, I list some power-law-related economic
    enigmas that demand further exploration.

[0] https://www.aeaweb.org/articles?id=10.1257/jep.30.1.185