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MODERN MONETARY THEORY SHOWS HOW FULL EMPLOYMENT CAN BE ACHIEVED!

POTENTIAL GDP is a level of overall spending - by the government and the non-government sector - at which there is full employment. If the economy is not operating at its potential, then the  private sector has failed to invested or spend enough to generate the necessary growth nor has income  from net exports contributed enough. This only leaves the government to close the spending gap. Conceptually, a government disposing of its own freely floating currency could act using two powerful tools -  spending in excess of tax revenue, and taxation - to ensure that the gap between the actual economic activity and potential GDP is quickly closed. Achieving the  full employment that prevailed for 30 years between 1945 and 1975 in western economies is definitely possible! 

MANAGING FULL EMPLOYMENT
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lab 13 Social and economic
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Summary of UNEP ecosystems services CBA 2011 article by Wegner and Pascual
Value and cost benefit analysis
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Model description:
This model is designed to simulate the outbreak of Covid-19 in Burnie in Tasmania, death cases, the governmental responses and Burnie local economy. 

More importantly, the impact of governmental responses to both Covid-19 infection and to local economy, the impact of death cases to local economy are illustrated. 

The model is based on SIR (Susceptible, Infected and recovered) model. 

Variables:
The simulation takes into account the following variables: 

Variables related to Covid-19: (1): Infection rate. (2): Recovery rate. (3): Death rate. (4): Immunity loss rate. 

Variables related to Governmental policies: (1): Vaccination mandate. (2): Travel restriction to Burnie. (3): Economic support. (4): Gathering restriction.

Variables related to economic growth: Economic growth rate. 

Adjustable variables are listed in the part below, together with the adjusting range.

Assumptions:
(1): Governmental policies are aimed to control(reduce) Covid-19 infections and affect (both reduce and increase) economic growth accordingly.

(2) Governmental policy will only be applied when reported cases are 10 or more. 

(3) The increasing cases will negatively influence Burnie economic growth.

Enlightening insights:
(1) Vaccination mandate, when changing from 80% to 100%, doesn't seem to affect the number of death cases.

(2) Governmental policies are effectively control the growing death cases and limit it to 195. 

Burnie Tasmania Covid - 19 outbreak simulation Model by Yankang Huang 541 277
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Biodiversity-Habitat Loss
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This is a toy model of an investment market.

Households follow a simple ratio to invest in bonds or equities.  In part, the investment decision is stochastic, such that stock market returns are volatile, with equities more volatile than bonds and with a higher yield. As such, the system shows increasing volatility as the investment bubble grows.


Investment Markets
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DPSIR Framework to Analyze EcoPeace Middle East's Good Water Neighbours Strategy
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An initial study of the economics of single use coffee pods.
Coffee Pods ISD Humanities v 1.01
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COVID Systemigram
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Using the reading assignment from El-Taliawi and Hartley on using a SSM for COVID-19 follow the steps for SSM to include: 1) Describe the Problem (unstructured). 2) Develop a Root Definition for the COVID-19 problem space by identifying the three elements: what, how, why. A System to do X, by (means of) Y, in order to achieve Z. X - What the system does Y - How it does it Z - Why is it being done (see slide 33 in the Systems Thinking Workshop reading)Download Systems Thinking Workshop reading) 3) Identify the Perspectives (CATWOE) 4) Develop a basic Systemigram / Rich Picture to tell the story. Submit your assignment as a Word document or PDF that addresses #1-4.
1) Problem Situation (Unstructured)

The COVID‑19 pandemic represents a complex, ill‑structured problem characterized by uncertainty, rapidly changing conditions, and conflicting stakeholder perspectives. As El‑Taliawi and Hartley emphasize, COVID‑19 is not merely a biomedical crisis but a socio‑technical system failure involving public health, governance, economics, social behavior, and global interdependence. There was no single agreed‑upon definition of “the problem.” For some actors, the problem was viral transmission and mortality; for others, it was economic collapse, civil liberties, misinformation, or institutional trust.

Key features of the unstructured problem include:

  • High uncertainty about the virus’s behavior, transmission, and long‑term effects.

  • Multiple stakeholders with competing values and priorities (health vs. economy, freedom vs. safety).

  • Nonlinear dynamics, where interventions (lockdowns, travel bans, vaccination campaigns) produced unintended consequences.

  • Fragmented governance, with responses varying across nations, states, and institutions.

  • Information overload and misinformation, complicating sense‑making and public compliance.

This ambiguity and plurality make COVID‑19 unsuitable for purely “hard” systems approaches and well suited for Soft Systems Methodology (SSM), which focuses on learning, interpretation, and accommodation rather than optimization.

2) Root Definition (What–How–Why)

A system to coordinate societal responses to the COVID‑19 pandemic (X), by integrating public health expertise, policy decision‑making, communication, and stakeholder engagement under conditions of uncertainty (Y), in order to reduce harm to human life and societal functioning while maintaining legitimacy, trust, and resilience (Z).

  • What (X) — Coordinating societal responses to COVID‑19.

  • How (Y) — Through adaptive governance, expert input, communication, and stakeholder engagement.

  • Why (Z) — To minimize health, social, and economic harm while sustaining trust and resilience.

This root definition reflects SSM’s emphasis on purposeful human activity systems, not technical control systems.

3) Perspectives (CATWOE Analysis)
  • Customers — General public, vulnerable populations, healthcare workers, businesses, future generations affected by long‑term consequences.

  • Actors — Governments, public health agencies (e.g., WHO, CDC), healthcare providers, scientists, media organizations, community leaders.

  • Transformation — A society facing uncontrolled viral spread and systemic disruption is transformed into one that manages risk, adapts behavior, and mitigates impacts.

  • Worldview (Weltanschauung) — COVID‑19 is a complex, evolving crisis requiring learning, adaptation, and pluralistic decision‑making rather than linear control.

  • Owners — National governments, international bodies, and political authorities with the power to authorize or terminate interventions.

  • Environmental Constraints — Scientific uncertainty, political polarization, economic limitations, cultural norms, global interdependence, time pressure.

CATWOE highlights how different worldviews lead to different “valid” problem definitions, reinforcing the need for SSM.

4) Systemigram / Rich Picture (Narrative Description)

The rich picture would depict COVID‑19 at the center as a disruptive force interacting with multiple subsystems. Public health institutions generate evolving scientific knowledge, feeding into government decision‑making. Governments issue policies (lockdowns, mandates, economic relief), which influence public behavior. Public response is shaped by trust, media narratives, misinformation, and social norms. Economic systems react to restrictions, feeding back political pressure on leaders. Healthcare systems experience strain, influencing policy urgency and public fear.

Feedback loops dominate the picture:

  • Policy decisions affect public behavior, which affects transmission rates.

  • Media narratives influence trust, which affects compliance.

  • Economic impacts influence political decisions, sometimes undermining health goals.

The systemigram emphasizes learning loops, delays, conflicts, and unintended consequences rather than linear cause‑effect chains.

If you want, I can translate this directly into a Word‑ready format, tighten it to a specific page limit, or sketch a labeled rich‑picture layout you can redraw by hand or digitally for submission.

translate this directly into a Word‑ready format 5 pages and sketch a labeled rich‑picture layout you can redraw by hand or digitally for submission.
Soft Systems Methodology (SSM) Analysis of the COVID‑19 Pandemic

Based on El‑Taliawi and Hartley

Introduction

The COVID‑19 pandemic represents one of the most complex global crises of the modern era. Traditional “hard” systems approaches, which assume clearly defined problems and measurable objectives, proved insufficient for addressing the pandemic’s intertwined health, social, political, and economic dimensions. El‑Taliawi and Hartley argue that COVID‑19 is best understood as a messy, ill‑structured problem situation, making it well suited for analysis using Soft Systems Methodology (SSM).

SSM does not attempt to “solve” the problem in a technical sense. Instead, it provides a structured learning process to explore multiple perspectives, clarify assumptions, and identify purposeful human activity systems that can improve the situation. This document follows the core SSM steps required in the assignment: (1) describing the unstructured problem, (2) developing a root definition, (3) identifying perspectives using CATWOE, and (4) developing a systemigram / rich picture narrative.

1. Description of the Problem Situation (Unstructured)

The COVID‑19 pandemic emerged rapidly and evolved unpredictably, creating a situation characterized by ambiguity, disagreement, and uncertainty. At the outset, there was no shared understanding of the nature or scale of the threat. Scientific knowledge about transmission, severity, and long‑term effects developed incrementally, often changing public guidance and policy decisions. This uncertainty undermined confidence and complicated coordinated action.

The problem situation extended far beyond public health. Governments faced competing pressures to protect lives, preserve economic stability, and maintain civil liberties. Healthcare systems experienced surges in demand, shortages of personnel and equipment, and moral distress among frontline workers. Businesses and workers faced closures, unemployment, and financial insecurity. Social isolation measures disrupted education, mental health, and community cohesion.

Multiple stakeholders framed the “problem” differently. For public health officials, the primary concern was reducing transmission and mortality. For political leaders, the challenge included maintaining legitimacy and public compliance. For citizens, the problem often centered on personal risk, economic survival, and trust in institutions. Media organizations and social platforms amplified both accurate information and misinformation, shaping public perception and behavior.

Covid-19 HW
7 months ago
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Concept map for Market revenue
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Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.
Final Project with KAYA Q1
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WIP Summary of Davies 2017 article from special Theory Culture and Society issue on Elites and Power after Financialization
Elite Power under Advanced Neoliberalism
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This causal loop diagram illustrates the interconnected factors affecting the economic empowerment of Congolese refugee women in Rwanda, with economic dependency as the central problem reinforced by limited access to vocational training, employment opportunities, and financial services. The diagram shows two key reinforcing loops: one where vocational training leads to employment and income generation, which reduces dependency and improves access to further training (R1), and another where income generation builds self-confidence and skills recognition, leading to better employment opportunities (R2), while language barriers and cultural constraints act as inhibiting factors throughout the system.

Causal Loop Diagram: Economic Empowerment of Congolese refugee women in Rwanda.
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From Jennifer Prah Ruger (2010) Health Capability Conceptualization and Operationalization Am J Public Health 100 p41-49 available from SSRN. Extends Insight 779 with Dahlgren and Whitehead's Sunrise Diagram of Social Determinants of Health added. See also wikipedia Capability Approach
Health Capability and Social Determinants
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Adapted from Fig 12.1 p.476 of the Book James A. Forte ( 2007), Human Behavior and The Social Environment: Models, Metaphors and Maps for Applying Theoretical Perspectives to Practice; Thomson Brooks/Cole Belmont ISBN 0-495-00659-9

Economic Theory Map
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A single resource is used​ with a constant rate and converted into products in use. After a while, these products become unusable because of aging. The recycling of these unusable products is imperfect, thus the amount of not recyclable resource grows (until a better recycling process is invented).
Resource 1
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Green lines: positive relationships
Red lines: negative relationships

Spill
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Goodwin Model:
This is a basic version of the Goodwin Model based on Kaoru Yamagushi (2013), Money and Macroeconomic Dynamics, Chapter 4.5 (link)

Equilibrium conditions:
  • Labor Supply = 100
Devation from the equilibrium conditions generates growth cycles.
Goodwin Model
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Economic capital (Fig. 37)
last month
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Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.
Final project with Socioeconomic Model
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This is a first attempt to illustrate the interconnected nature of the economic assets of Roswell - Chaves County
RCC economic model