WIP  based on Where profits come from paper , Nathan Tankus blog and other historical sources

Any activity  requires the use of energy. Economic activity is not possible without energy,  especially fossil fuels. An increase in economic activity necessarily leads to an increase in the use  fossil fuels and greenhouse gas emissions. In addition there will   be a commensurate increase in waste products, pollution and heat. This is dictated by the laws of physics and unavoidable.  A problem arise when the cost of this degeneration caused by continual economic growth surpasses the benefit society derives from it. The ecological economist Professor Herman Daly (2014) explained that when the impact on the ecosystem is correctly measured, global growth has reached a point where the total private and social costs of economic growth outweigh the private and social benefits. In other words, more economic growth is making global society worse off overall - growth has become uneconomic! The model shows that eventually pressures will build up that counteract the perennial belief that all social ills can be solved with economic growth. 

Adam Smith's The Invisible Hand: The Feedback Structure of Markets. From Sterman JD Business Dynamics p170 Fig 5-26. A price-mediated resource allocation system..

Structure of model in Nathan Forrester's 1983 MIT Thesis comprising 4 models

This model is to show the status of numbers of infected people, recovered people and deaths during COVID-19 in Burnie Australia. It also shows impact on the growth of economy. 

WIP of Rammelt's 2019 System Dynamics Review Article which has STELLA and Minsky software versions as supplements. Compare with the older IM-2011 version

Summary WIP of Thomas Palley's 2012 Book

An initial study of the economics of single use coffee pods.

Brief Summary of Albert O Hirschman's Book with 2026 update

This model shows the COVID-19 outbreaks in Burnie and the Government intervention to alleviate the crisis and also how is the intervention affect the economy.

New Power Book summary about platform participation by Jeremy Heimans and Henry Timms 2018 book and 2014 hbr article See also videos TED talk 2014 and Talk at Google 2018

Unfolding story based on Bogdanov's original A Short Course of Economic Science text and Pilyugina's 2019 article

Model description:

This model is designed to simulate the outbreak of Covid-19 in Burnie in Tasmania. It also tell us the impact of economic policies on outbreak models and economic growth.

 

Variables:

The simulation takes into account the following variables and its adjusting range: 

 

On the left of the model, the variables are: infection rate( from 0 to 0.25), recovery rate( from 0 to 1), death rate( from 0 to 1), immunity loss rate( from 0 to 1), test rate ( from 0 to 1), which are related to Covid-19.

 

In the middle of the model, the variables are: social distancing( from 0 to 0.018), lock down( from 0 to 0.015), quarantine( from 0 to 0.015), vaccination promotion( from 0 to 0.019), border restriction( from 0 to 0.03), which are related to governmental policies.

 

On the right of the model, the variables are: economic growth rate( from 0 to 0.3), which are related to economic growth.

 

Assumptions:

(1) The model is influenced by various variables and can produce different results. The following values based on the estimation, which differ from actual values in reality.

 

(2) Here are just five government policies that have had an impact on infection rates in epidemic models. On the other hand, these policies will also have an impact on economic growth, which may be positive or negative.

 

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

 

(4) This model lists two typical economic activities, namely e-commerce and physical stores. Government policies affect these two types of economic activity separately. They together with economic growth rate have an impact on economic growth.

 

Enlightening insights:

(1) In the first two weeks, the number of susceptible people will be significantly reduced due to the high infection rate, and low recovery rate as well as government policies. The number of susceptible people fall slightly two weeks later. Almost all declines have a fluctuating downward trend.

 

(2) Government policies have clearly controlled the number of deaths, suspected cases and COVID-19 cases.

 

(3) The government's restrictive policies had a negative impact on economic growth, but e-commerce economy, physical stores and economic growth rate all played a positive role in economic growth, which enabled the economy to stay in a relatively stable state during the epidemic.

WIP Summary of Mariana Mazzucato's 2018 book See also IM-901 MacroEc

Ocean/atmosphere/biosphere model tuned for interactive economics-based simulations from Y2k on.

WIP based on Bill mitchell's blogs.