Studies in Modelling and Decision Support, Second Edition
- Elgar original reference
Edited by M. A. Quaddus and M. A.B. Siddique
Chapter 4: Modelling long-term sustainability
In the book Beyond Walras, Keynes and Marx (Yamaguchi, 1988) I tried to synthesize three economic paradigms in the industrial age: neoclassical, Keynesian and Marxian, under a general equilibrium framework, and presented a new economic paradigm suitable for the information age. Through the work, my interest has gradually shifted toward sustainability of the new economy. This shift of interest resulted in the book Sustainable Global Communities in the Information Age (Yamaguchi, 1997), in which I have contributed a chapter entitled ‘Sustainability and a Mu Ratopian Economy’. In the chapter, sustainability is newly defined in terms of physical, social and ecological reproducibility from a general equilibrium point of view developed in Yamaguchi (1988). At that time, I had no tools or software to enable me to model my framework of sustainability for further computational analysis and simulation. Soon afterwards, I happened to encounter the book Beyond the Limits (Meadows et al., 1992), which explores world sustainability by applying simulation results of the World3 model.
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