THE 2014 FORBES BILLIONAIRES

AVERAGE NET WORTH BY COUNTRY: PARTIAL LIST OF 10 COUNTRIES AND THE RELATIONSHIP BETWEEN AGGREGATE NET WORTH AND THE NUMBER OF BILLIONAIRES IN A COUNTRY By V. Laxmanan, Sc. D.
First published: March 5, 2014 (around 7 AM) Updated on: March 6, 2014: (around 12:05 am) Table 3 updated with 13 countries. Figure 3 is updated with 13 countries (Canada, Malaysia, and Chile added to previous 10). Table 4 added with data for 21 countries with less than 10 billionaires each. New Figure 5 added with data for countries (21) with less than 10 billionaires. Updated March 6, 2014 (around 2:30 am) Data for France added to Table 3 and new Table 5 added. New Figures 6 and 7 are added comparing France and Germany, India and Australia, and Hong Kong data. France and Germany fall on a parallel to the India and Australia line with Hong Kong billionaires falling on a third parallel and having an aggregate worth slightly lower than the French billionaires. This is an EXCELLENT ILLUSTRATION OF THE IDEA OF A WORK FUNCTION for the billionaire wealth generation problem. Business leaders, and financial and economic analysts, and, YES, the billionaires too, must note that the familiar calculation of the average net worth of the billionaires fails in this case to explain the data which is better explained using a broad generalization of the idea of a work function suggested by the present author.
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THE 2014 FORBES BILLIONAIRES

AVERAGE NET WORTH BY COUNTRY: PARTIAL LIST OF 10 COUNTRIES AND THE RELATIONSHIP BETWEEN AGGREGATE NET WORTH AND THE NUMBER OF BILLIONAIRES IN A COUNTRY By V. Laxmanan, Sc. D. Abstract
A new model for analyzing the average billionaire net worth for different countries is described here, based on a generalization of the idea of a work function conceived by Einstein to explain the photoelectric effect. This explains the difference in the aggregate net worth of the billionaires of Hong Kong and Germany, relative to the billionaires of India and Australia. The energy that must be given up by a photon to produce an electron is called the work function. This can be compared to the fixed costs of a company, and the breakeven revenue (which is proportional to the fixed cost) that must be exceeded before profits will appear. Likewise there is a cut-off level for wealth generation in the billionaire system which depends on the business climate and financial, political, social, and cultural environment in which billionaires generate their wealth in different countries.
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Email address: vlaxmanan@hotmail.com The author is a retired research professional, with advanced degrees in Mechanical Engineering and Materials Science and Engineering who has spent his entire professional career in leading US research institutions, in academia ( MIT and CWRU), in government (NASA), and in corporate research labs (Allied Chemical Corporate R & D, now part of Honeywell, and the General Motors Research Labs). He has also published many widely cited scientific articles in leading peer-reviewed international journals in both physics and the materials sciences. His current research interests include the study of business, financial, and economic data using methods commonly used in physics and the hard sciences. This has led him to propose a broad generalization of the Planck-Einstein ideas from quantum physics and their application to financial, economic, business, social, and political, sports and other systems. He has also recently been active in the analysis of the Page 2 of 18

climate data, especially global average temperature data using similar methods (a new physics of global warming) and as recently created a Facebook group called Global Warming for the Layman; see https://www.facebook.com/groups/GWforlayman/, on January 5, 2014, aimed at discussing global warming data in an easy-to-understand manner, with short posts. He

Introduction The 2014 Worlds Billionaires list, published annually by Forbes, includes 1645 billionaires from 69 countries with an aggregate net worth of $6.4 trillion [1]. Following up on the analysis of the net worth data from the 2013 Forbes list [2, 3], in the first article analyzing the data for the 2014 Forbes billionaires [4], it was shown that the mathematical law y = kxn relates the net worth (y) of the billionaires in a country and their Forbes rank (x). The constants k and n can be deduced from the (x, y) observations of net worth and the rank. In this article, we will consider the relationship between the aggregate net worth and the number of billionaires N. Table 1: Net worth of the 2014 billionaires from Ireland Billionaire number, N Net worth, Uj (j = 1 to 5) Aggregate, UN Average net worth, U = UN/N 1 12.8 12.8 12.8 2 6 18.8 9.4 3 2.5 21.3 7.1 4 2.2 23.5 5.875 5 2 25.5 5.1

Data source: http://www.forbes.com/billionaires/list/#tab:overall_country:Ireland

Aggregate and Average Net Worth of Billionaires Consider a single country, such as Ireland, with five billionaires, see Table 1. The net worth of the jth billionaire in the list is denoted as Uj where j goes from 1 to N, with N being the total number of billionaires in a country. The subscript N is used to denote the aggregate net worth of N billionaires. This will obviously keep increasing as more and more billionaires are added to our list. The net worth of the individual billionaires, Uj, is listed in the second row and the aggregate net worth of the N billionaires, denoted as U N , is given in the third row. This keeps increasing with increasing N. However, the average
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net worth U = UN/N is decreasing since our list is an ordered list with the Uj values being arranged from the highest to the lowest. If the values had been arranged randomly, the average U can be shown to either increase or decrease depending on the latest value of Uj added to the total, see Table 2. The final average and the aggregate values, however, do not change. Table 2: Net worth of the 2014 billionaires from Ireland (Randomized) Billionaire number, N Net worth, Uj (j = 1 to 5) Aggregate, UN Average net worth, U = UN/N 1 2.2 2.2 2.2 2 12.8 15 7.5 3 2.5 17.5 5.833 4 2 19.5 4.875 5 6 25.5 5.1

Data source: http://www.forbes.com/billionaires/list/#tab:overall_country:Ireland

How would this change if we consider the data for several countries? For example, in the 2013 ranking of countries by the average billionaire net worth (U = UN/N), Nigeria, with just two billionaires, headed the list [5]. The combined net worth of the two billionaires UN was $20.8 billion for an average net worth U of $10.4 billion. This seems totally ridiculous and has to do with the property of averages as illustrated by the calculations in Tables 1 and 2 with a single country. A partial list of the aggregate net worth and the average net worth for 10 countries from the 2014 list has been compiled in Table 3. The number of billionaires N, the aggregate value UN and the average U was determined by sorting the 2014 Forbes list by country. The data for Africa was obtained by summing the values for all the billionaires provided by Nsehe [6]. Singapore has three times (15) the billionaires of Argentina (5) or Ireland (5) while Hong Kong (45) has three times the billionaires of Singapore. However, the aggregate net worth of the Singapore billionaires has NOT increased to three times the value for Ireland but is more than three times the value for Argentina. The aggregate net worth of the Hong Kong billionaires is, likewise, more than three times the Singapore aggregate. In other words, the simple proportionality between UN and N, such as UN =bN does not apply. When N goes up three times, UN does not go up three times. This can also be appreciated by considering the data for UK and Hong Kong. With 47 billionaires, UK has a lower aggregate than Hong Kong with 45 billionaires.
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Also, Australia and Africa, with 29 billionaires each, do NOT have the same aggregate value UN. Hence, it is clear that we must study the relationship between UN and N more carefully in order to compare different countries. The ranking of countries using the average U = UN/N seems to be missing something important. With this background, let us now explore the relationship between U N and N using simple x-y plots. Table 3: Average Billionaire Net Worth by Country: Partial list Country Germany India UK Hong Kong France Canada Australia Africa Israel Singapore Malaysia Chile Ireland Argentina Number of billionaires, N 82 56 47 45 43 32 29 29 18 15 13 12 5 5 Aggregate net worth, UN 392.5 191.5 151.85 213.65 235.2 112.55 85.3 100.45 61.75 43.8 53 41.25 25.5 11.3 Average net worth, U = UN/N 4.79 3.42 3.23 4.75 5.47 3.52 2.94 3.46 3.43 2.92 4.08 3.44 5.10 2.26

Aggregate Net Worth and Number of Billionaires Consider Australia and India with 29 and 56 billionaires. India has nearly twice as many billionaires. The aggregate net worth for India is, however, 2.25 times the Australian value. Mathematically speaking, this means that the straight line joining these two (x, y) pairs does not pass through the origin but has a finite nonzero intercept. This is illustrated in Figure 1. The general equation, y = mx + c applies, rather than the equation y = mx. The ratio y/x = m is, of course, the same as the average net worth U.
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It is clear that India and Australia fall on a line with a positive slope m and nonzero intercept c which means a finite cut-off value of x = x0 = 7.31 (instead of c = 0 and x0 = 0). The existence of this finite cut-off actually indicates the difficulty of wealth generation that is built into the business and financial system (including social, political, cultural norms, tax laws, etc.) that we are working with. It is as if the first eight billionaires do not make any contributions to the aggregate worth. The aggregate net worth then increases linearly with increasing number of billionaires.

Aggregate net worth, UN [$, B]

350 300 250 200 150 100

y = 3.9333x - 28.767 R = +1.000 India Australia

50
0 -50 0 10 20 30

40

50

60

70

80

Number of billionaires, N
Figure 1: The Australia-India net worth data. The two (x, y) pairs are joined by the straight line y = mx + c = m(x x0) = 3.933x 28.67 = 3.933(x 7.31). The negative intercept c = -28.67 (y = c, when x = 0) means that the graph cuts the x-axis at the point x = x0 = -c/m = 7.31; see solid blue dot on the x-axis. This situation can be compare to the fixed costs associated with a company. Think of a company making and selling N units of a single product. If p is the unit price, the revenues generated by the sales R = pN. There is a fixed cost a associated with the operation and a variable cost bN where b is the unit variable cost. The total cost C = a + bN. Hence, profits P = R C = pN a bN = (p b)N a. Eliminating N, by setting N = R/p, we get
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Profits P = [(p b)/p]R a = [1 (p/b)]R a

..(1)

Equation 1 means that the profits-revenues graph is a straight line with the slope m = 1 (b/p) which depends on the ratio of unit variable cost to the unit price. The profits P = 0 when revenues R = ap/(p b), the breakeven revenue, which is exactly like the x0 value for our billionaire problem. However, once the cut-off revenue is exceeded, only a fraction of the additional revenues is converted into profits This is due to the variable cost b and hence the slope m = 1 - (b/p) is less than 1. It appears that exactly similar considerations apply to the problem of wealth generation among the billionaires of India and Australia. There is a cut-off which tells us something about the difficulty of wealth generation and is akin to the work function conceived by Einstein, in his famous 1905 paper on the quantum nature of light. Einsteins photoelectric law, is also a linear law, and is written as K = E W = hf W = h(f f0). Here E = hf is the energy of a photon that strikes the surface of a metal when light shines upon it. The photon then ejects an electron. However, the maximum energy of the electron K < E because of the work that must be done to overcome the complex forces that bind the electron to the metal. Einstein calls the energy that must be given up, to produce the electron, as the work function of the metal W = hf0 . Hence, the frequency of light must exceed this cut-off value f0 before a photoelectric current can be generated. Einsteins work function is just like the fixed costs of a company before profit generation is observed. Likewise, it appears that there is a nonzero work function, as indicated by the nonzero intercept c that acts as a barrier for wealth generation among the billionaires. The work function, or the equivalent of the break even revenue for a company, ap/(p b), which is directly proportional to the fixed cost a is a complex property of the business and financial system, and, perhaps, also other cultural norms that lead to wealth generation (taxes, corruption, work ethic, etc.). With this interpretation of the meaning of the nonzero intercept c, it is now easy to understand why the average net worth U = UN/N = y/x increases as the number of billionaires increases when we move up the line from the (x, y) pair
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for Australia to the (x, y) pair for India. Since y = mx + c, the ration y/x = m + (c/x) = 3.933 (28.77/x). Here x is the number of billionaires. The negative contribution means that the average net worth of the Indian billionaires will be higher than that for the Australian billionaires, see Figure 2, although as we see here the rate of wealth generation, the rate of increase of the aggregate worth, as indicated by the fixed slope m is constant for both countries.

Aggregate net worth, UN [$, B]

250

200
150 100 50 0 0 10 20 30 40 50 60 70 80 90 100

Number of billionaires, N
Figure 2: The Australia-India net worth data. The average billionaire net worth is the ratio y/x = UN/N = m and is equal to the slope of the two rays that passing through the origin (0, 0) of this graph. These slope increase with increasing x because of the nonzero cut-off on the x-axis (which means a negative intercept c when the line will cut the y-axis). In other words, the perceived variation in the average billionaire net worth is entirely due to the fact that we have ignored the nonzero work function, or the fixed cost associated with wealth generation, when we use simple y/x ratios, instead of the detailed analysis presented here. The significance of this nonzero work function can be appreciated further by considering the full x-y plot for all the 10 countries listed in Table 3.
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Aggregate net worth, UN [$, B]

450 400 350 300 250 200

Germany

Hong Kong India Australia

150
100 50 0 0 10 20 30 40

50

60

70

80

90

Number of billionaires, N
Figure 3: The aggregate net worth data for 10 countries from the 2014 Forbes billionaires list. The Australia-India line serves as a reference and all of the (x, y) pairs fall above the line. In other words, the aggregate net worth is higher after duly accounting for the differences in the number of billionaires. It is also of interest to note that the (x, y) pair for UK falls right on the Australia-India line, after duly accounting for the differences in the number of billionaires. The Hong Kong and Germany data deviate significantly from the Australia-India line. These two points can be envisioned to fall on parallels with a higher value of the nonzero intercept c, see Figure 4, which also explains the higher aggregate net worth. net worth data. From Table 3, it is clear that the average net worth, the ratio y/x, is virtually identical for both Hong Kong and Germany. The (x, y) pairs for these two countries fall above the Australia-India line. Also it is clear that the two (x, y) pairs fall approximately on the same ray passing through the origin (0, 0), with the slope y/x = UN/N = 4.75 to 4.79. In terms of the work function we can envision Hong Kong and Germany falling on a parallel with different values of the nonzero intercept c. For Hong Kong c = 36.65 and for Germany c = 69.967. These parallels are illustrated in Figure 4.

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Aggregate net worth, UN [$, B]

450.0 400.0 350.0 300.0 250.0 200.0

Germany

Hong Kong India Australia

150.0
100.0 50.0 0.0 0 20 40

60

80

100

Number of billionaires, N
Figure 4: The aggregate net worth data for 10 countries from the 2014 Forbes billionaires list. The Australia-India line serves as a reference and all of the (x, y) pairs fall above the line. The UK data falls on the same line. The parallels through the data points for Hong Kong (c = 36.65) and Germany (c = 69.967) mean that the work function has decreased for these two countries and this has increased the aggregate net worth of the billionaires and hence also the average net worth. The analytical method described thus duly accounts for the differences in the number of billionaires and how this affects the average and aggregate net worth. In summary, a new model for analyzing the average billionaire net worth for different countries is described here, based on a generalization of the idea of a work function conceived by Einstein to explain the photoelectric effect. The energy that must be given up to produce an electron is the work function. This is similar to the fixed costs of a company, and the breakeven revenue (which is proportional to the fixed cost) that must be exceeded before profits will appear. Likewise there is a cut-off level for wealth generation in the billionaire system which depends on the business climate and financial, political, social, and cultural environment in which billionaires generate their wealth in different countries.

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Aggregate net worth, UN [$, B]

450 400 350 300 250 200

150
100 50 0 0 10 20 30 40 50 60 70 80 90

Number of billionaires, N
Figure 3: (Updated with data for Canada, Malaysia, and Chile). The aggregate net worth data for 10 countries from the 2014 Forbes billionaires list. The Australia-India line serves as a reference and all of the (x, y) pairs fall above the line. In other words, the aggregate net worth is higher after duly accounting for the differences in the number of billionaires. It is also of interest to note that the (x, y) pair for UK falls right on the Australia-India line, after duly accounting for the differences in the number of billionaires. The Hong Kong and Germany data deviate significantly from the Australia-India line. These two points can be envisioned to fall on parallels with a higher value of the nonzero intercept c, see Figure 4, which also explains the higher aggregate net worth. net worth data. Twenty-one (21) countries with less than 10 billionaires each were identified from the 2014 Forbes Billionaires list, see Table 4. Of these, Nigeria with four billionaires again has the highest average net worth of $8.325 billion. However, Nigeria and also Columbia are exception that fall well above the trend revealed by the line joining countries with N = 2 (Oman) and N = 4 (Cyprus), with equation y = mx + c = 8.7x -15.1 = 8.7(x 1.7356). Notice that the data for other countries seems to fall on a parallel to this line. For example, Columbia (N = 4, 30.7) and Angola (N = 1, 3.7) are joined by a line a slope m = 9, which is very close to the slope m = 8.7 for the line I here.
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Likewise, the change in the net worth between N = 3 and N = 5, for Belgium and Ireland, yields a slope m = 8.75 which matches the slope m = 8.7. Likewise the change in the net worth between N = 5 and N = 6 and also between N = 8 and N = 9 are roughly the same ($7.15B and $7.4B, respectively, which is comparable to slope m = 8.7). Thus, we conclude that the aggregate net worth data for the billionaires does move along a system of parallel lines, similar to the parallels lines observed in the photoelectricity experiments. This also means that the nonzero intercept c, or the cut-off x = x0 = - c/m is exactly like the work function conceived by Einstein. In photoelectricity, the work function is related to the difficulty of producing electrons when light shines on the surface of the metal. In the billionaire problem, the work function is related to the difficulty of wealth generation, due to various factors related to the business climate, and the financial, economic, social, political, and cultural environment in such billionaires create their wealth.

Aggregate net worth, UN [$, B]

40
35 30 25 20 15 10 5 0 0 2 4 6 8 10

Line I y = 8.7x - 15.1 R = 1

Number of billionaires, N
Figure 5: The aggregate net worth data for 21 countries from the 2014 Forbes billionaires list with less than 10 billionaires each. The Oman-Cyprus line serves as the reference line with other data points falling on roughly parallel lines.
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Even better agreement might be observed when the full list becomes available, as for the 2013 Forbes billionaires.

Table 4: Countries with less than 10 billionaires each Country

Georgia Angola Algeria Guernsey Romania Lithuania Oman Macau Belgium Columbia Cyprus Nigeria Morocco Finland Ireland Poland Argentina Kuwait Lebanon Egypt Ukraine

Number of billionaires, N
1 1 1 1 1 1 2 2 3 4 4 4 4 4 5 5 5 5 6 8 9

Aggregate net worth UN

5.2 3.7 3.2 2.4 1.2 1 2.3 2.8 8 30.7 19.7 33.3 7.35 6.6 25.5 11.8 11.3 5.15 12.3 19.2 26.6

Average Net Worth, U = UN/N

5.2 3.7 3.2 2.4 1.2 1 1.15 1.4
2.67 7.675 4.925 8.325 1.8375 1.65 5.1 2.36 2.26 1.03 2.05 2.4 2.956

Countries (21) with less than 10 billionaires (N < 10) each from the Forbes 2014 (partial list). Table 5: Data for five countries to illustrate the idea of a work function Country
Australia France Hong Kong India Germany

Number of billionaires, N
29 43 45 56 82

Aggregate net worth UN

85.3 235.2 213.65 191.5 392.5

Average Net Worth, U = UN/N

2.94 5.47 4.75 3.42 4.79
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Aggregate net worth, UN [$, B]

500 450 400 350 300 250 200 150 100 50 0 0

y = 4.03x + 61.767 France

Germany

y = 3.93x 28.767 India Australia

10 20 30 40 50 60 70 80 90 100

Number of billionaires, N
Figure 6: The aggregate net worth data for the billionaires from five leading modern economies is plotted here. The aggregate net worth data for individual countries was obtained by sorting the 2014 Forbes billionaires list and summing the net worth of all the billionaires. The data for the five countries plotted here reveals an interesting pattern. Consider France and Germany, with 43 and 82 billionaires respectively. The aggregate net worth increases, as expected when the number of billionaires increases. The French-German line has the mathematical equation y = mx + c = 4.03x + 61.767 with a slope m = 4.03 and a positive intercept c = 61.767. The India and Australia data reveal exactly the same pattern. Again, the aggregate net worth increases as the number of billionaires increases. The Indo-Aussie line has the mathematical equation y = mx + c = 3.93x 28.767. The slope m = 3.93 is virtually identical to the slope m = 4.03 of the line joining the French and German data. Only the intercept c has become more negative. The more negative the intercept, the lower the aggregate net worth although the rate of increase of the net worth is the same for both these country pairs. The Hong Kong data is quite consistent with these results. With two additional billionaires, the aggregate net worth is slightly lower than for

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the French billionaires. Indeed, one can envision a third parallel through the Hong Kong (x, y) pair with c = 32.15 instead of c = The differences that we see here can be readily understood by invoking the idea of a work function for wealth generation, as discussed earlier in the man text, where we start with the India-Australia data.

Aggregate net worth, UN [$, B]

500

Germany
400 300 200

Hong Kong France y = 4.03x + 32.15 India Australia

100 0 0 10 20 30 40 50 60 70 80 90 100

Number of billionaires, N
Figure 7: A third parallel, which passes through the (x, y) pair for Hong Kong is added here to the graph of Figure 6, with the equation y = 4.03x + 32.15, which is lower than the intercept c = 61.767 for the French-German line but higher than the intercept c = - 28.767 for the Indo-Aussie line. Einsteins photoelectric law which can be written as K = E W = hf W = h(f f0) is the only other law of nature that predicts a movement of the data along parallel lines, see illustration for different metals given in the Physics Hypertext. This is the reason to refer to the nonzero intercept c as the work function. Some additional illustrations of the photoelectric effect are included in this update for convenient review by readers without the needed physics background.

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http://hyperphysics.phy-astr.gsu.edu/hbase/imgmod2/pelec.gif

http://images.tutorvista.com/cms/images/83/photo-electric-effect.PNG

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http://coraifeartaigh.files.wordpress.com/2010/04/planck_photoelectric_1.gif

REFERENCES [1] Dolan, K. A., and Kroll, L., Inside the 2014 Billionaires List: Facts and Figures, http://www.forbes.com/sites/luisakroll/2014/03/03/insidethe-2014-forbes-billionaires-list-facts-and-figures/ The list can be sorted by country to prepare the Tables of the Top 10 for each country. V. Laxmanan, Bibliography I of Articles by V. Laxmanan on the Extension of Plancks and Einsteins Ideas on Energy Quantum to Topics Outside Physics, compiled April 16, 2013, http://www.scribd.com/doc/136492067/Bibliography-I-Articles-onthe-Extension-of-Planck-s-Ideas-and-Einstein-s-Ideas-on-EnergyQuantum-to-topics-Outside-Physics-by-V-Laxmanan V. Laxmanan, Bibliography II of Articles by V. Laxmanan on the Extension of Plancks and Einsteins Ideas Beyond Physics with Examples from the observations on financial, economic, social, and political systems, compiled June 16, 2013,
http://www.scribd.com/doc/147955814/Bibliography-II-of-V-Laxmanan-Articleson-the-Extension-of-Planck%E2%80%99s-and-Einstein%E2%80%99s-IdeasBeyond-Physics-with-Examples-from-the-Observations-on-Finan

[2]

[3]

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[4]

V. Laxmanan, The 2014 Forbes Billionaires, A Universal Law Relating Net Worth and the Rank of the 2014 Billionaires,
http://www.scribd.com/doc/210549337/THE-2014-FORBES-BILLIONAIRESUNIVERSAL-LAW-RELATING-NET-WORTH-AND-RANK-OF-THE-BILLIONAIRES

[5]

Durgy, E., Average Billionaire Net Worth by Country: Full list, March 3, 2013, http://www.forbes.com/sites/edwindurgy/2013/03/13/averagebillionaire-net-worth-by-country-full-list/

[6]

Nsehe, N., The African Billionaires 2014, March 4, 2014, http://www.forbes.com/sites/mfonobongnsehe/2014/03/04/theafrican-billionaires-2014/ [7] Canadas Richest People According to Forbes, The Huffington Post, Canada, March 3, 2014, http://www.huffingtonpost.ca/2014/03/03/richest-canadiansforbes_n_4892478.html?just_reloaded=1 [8] Karmali, N., Indian billionaires 2014: Big Winners, Big Losers, http://www.forbes.com/sites/naazneenkarmali/2014/03/03/indianbillionaires-2014big-winners-big-losers/ [9] The Photoelectric Effect, Great Experiments in Physics, Edited by Morris Shamos (Dover Publications, 1959), pp. 232-237. [10] Photoelectric Effect, The Physic Hyper Textbook, http://physics.info/photoelectric/ see an illustration of the movement of photoelectric measurements along parallels for different metals. [11] Einstein, A., On a heuristic point of view about the creation and conversion of light, Annalen der Physik (1905). In Stachel, J. A., (1989), pp. 150-166, [12] Millikan, R. A., The electron and light quanta from experimental point of view, Nobel lecture, May 23, 1924, Einstein, A., On a heuristic point of view about the creation and conversion of light, Annalen der Physik (1905)
http://www.ffn.ub.es/luisnavarro/nuevo_maletin/Einstein_1905_heuristic.pdf http://www.ffn.ub.es/luisnavarro/nuevo_maletin/Einstein_1905_heuristic.pdf

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