WIP Cloned from WIP Africa Just Transition insight including (Fig 3.1 from Jorgen Randers book 2052 a Global Forecast for the Next Forty Years) with Fadhel Kaboub MMT Perspective to continue top down work on my slides of clds and macroeconomics
Sectoral balances are relationships among money flows during an accounting period. Where we perceive accumulations of past imbalances to be accrued is another matter....
WIP summaries of bill mitchell's blog postings related to the connections between macroeconomics and wellbeing, particularly via unemployment and inflation
Model-SIM from Chapter 3 of Wynn Godley and Marc Lavoie's Monetary Economics, adapted for an open economy. The model is stock-flow consistent with only government money--no bills or bonds. No central bank and interest rates do not change. Government spends buying output from the production sector. The production sector is passive turning over all revenue over to households. Households save out of income and spend partially spend out of wealth. Imports and exports pass through the production sector illustrating the idea that consumer households buy from domestic businesses that which they have imported. The model also tracks the sectoral balance flows and changes in equity. Sectoral flows and equity balances match each other dollar for dollar to satisfy the sectoral balances accounting identity (Household Saving - Consumption) + (Business Saving - Expenditure) + (Taxes - Government Spending) - (Exports - Imports) = 0. Since business investment occurs internally to the Business Sector,
WIP to provide an overarching structure to simplify the previous messy insight aggregate of multiple lower scale elements based on Fadhel's substack blog entries esp BRICS WIP in Gene's brain link
WIP summaries of bill mitchell's blog postings related to the connections between macroeconomics and wellbeing, particularly via unemployment and inflation
