Failing to Plan is Planning to Fail

One method of economic modelling that has become increasingly popular in academia, government and the private sector is Agent Based Models, or ABM. These simulate the actions and interactions of thousands or even millions of people to try to understand the economy – for this reason ABM was once described to me as being “like Sim City without the graphics”. One advantage of ABM is that it is flexible, since you can choose how many agents there are (an agent just means some kind of 'economic decision maker' like a firm, consumer, worker or government); how they behave (do they use complicated or simple rules to make decisions?); as well as the environment they act in, then just run the simulation and see what happens as they interact over time.

Post-Colonialisms Today researchers Kareem Megahed and Omar Ghannam discuss the importance of industrial policy during the pandemic to improve domestic capacity for manufacturing essential goods.

This article briefly examines Marx's profound contribution in the political-economic thought. It provides the historical foundations of Marxian economic thought based on the contemporary situation as well as the state of economic thought at that time. Lastly, it discusses the volumes of Marx's contribution, as well as subsequent contributions and …