Summary and Conclusions

Harland Wm. Whitmore

Chapter 18 in The World Economy, Population Growth, and the Global Ecosystem, 2007, pp 311-312 from Palgrave Macmillan

Abstract: Abstract The complete unified model of the world economy operating within the global ecosystem consists of the production, employment, pricing, and wage-setting functions summarized in chapter 10 plus the financial market equilibrium conditions specified in chapter 15, the restrictions on these conditions presented in chapter 16, and the end-of-period equations for the real resources, the manufactured goods, the human populations, and the stocks of financial assets. Once all of these end-of-period stocks are determined, new rounds of decision making occur for next period similar to the ones presented in this study for the current period. Together, these equations of motion propel the world economy and the global ecology through time. In principle, these functions could provide the basis for numerical simulations that would reveal the sensitivity of the system to alternative assumptions regarding mortality rates, the amount of mass wasted per unit of each capital or consumption good produced, the ability of the basic resource to assimilate waste, the growth rates of the renewable resources, the ability of labor and capital services to transform mass into capital or consumption goods, et cetera.

Keywords: Central Bank; World Economy; Government Spending; Consumption Good; Perfect Competition (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-60730-9_18

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230607309

DOI: 10.1057/9780230607309_18

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().