Studies in Modelling and Decision Support
- Elgar original reference
Edited by M. A. Quaddus and M. A.B. Siddique
Chapter 3: Modelling Long-Term Sustainability
3 Modelling long-term sustainability Kaoru Yamaguchi1 Introduction 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 MuRatopian 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. The model was constructed by computer software called STELLA, which runs on Macintosh. I was amazed by its ability to build complicated models easily, and gradually became interested in the software itself, which can handle complex socioeconomic dynamics without knowing computer languages such as C and C++. The World3 model was an extended version of the World Model, which was originally developed by Jay Forrester in his book World Dynamics (Forrester, 1971). The original model was created by computer software called...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.