About

 

This blog separates the macro-policy space from the growth and feedback space of SocioEconomic Systems. My argument (here) is that both the Classical, Neoclassical and Neoliberal economists have been too quick to jump from trying to understand the macro-economy to offering policy proscriptions. For example, just because you can write an ImPAcT Model that has markets for Labor, Commodities, Financials, Energy and Carbon (CO2) it does not mean that the SocioEconomic System has adequate feedback loops to control shocks (as most countries have found out in the inflation that resulted from the COVID-19 Pandemic).

To be specific, at least for the present, here are some policy models that I think should be kept separate from state-space models of the SocioEconomic System:

• AD-AS Market Model
• IS-LM Model
• Phillips Curve
• Arms Race Model
• Demographic Transition Model
• Monetary Models
• Taylor Rule Models
• Keynesian Model

Each of these models and others that I will discover over time make up the Policy Space that is distinct from the State Space of the SocioEconomic Systems I will be presented in following posts.