Abstract
Two important problems in models for a sustainable economy are (1) how to connect environmental models with societal models and (2) how to model the impact of societal changes upon an environment.For the first challenge, the Leontief economic model has been transformed from a vector to a tensor equation, as a model for integrating regional descriptions of an economy and its local environment. However, this is a static model of a steady-state (stasis) economy during a given period; and here we address the second challenge of modeling the impact of societal change upon an economy and its environment.We apply the modeling of societal change in the historical case of Australia’s Mining Rent Tax of 2012-2014.
Highlights
Every model has a specific form, specific dynamics, specific content, and formatted data input and information output
Two important problems in models for a sustainable economy are (1) how to connect environmental models with societal models and (2) how to model the impact of societal changes upon an environment.For the first challenge, the Leontief economic model has been transformed from a vector to a tensor equation, as a model for integrating regional descriptions of an economy and its local environment
This is a static model of a steady-state economy during a given period; and here we address the second challenge of modeling the impact of societal change upon an economy and its environment.We apply the modeling of societal change in the historical case of Australia’s Mining Rent Tax of 2012-2014
Summary
Every model has a specific form, specific dynamics, specific content, and formatted data input and information output. This is especially true of economic models, measuring economic activities in prices and monetary values, compared to environmental models, measuring natural processes in terms of physical and/or biological forms – money versus nature. Efficient and accurate models must always be of appropriate perspective and of a finite size, tested and validated with observable data. A modeling methodology needs to have its detail, ‘graininess’, appropriate to the realistic challenge.We address the ‘graininess’ issue in modeling for sustainable economy by ‘regionalizing’ an integrated economic-environmental model
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