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The Circulation of Currency in the Macro-economy (Closed System)


The Circulation of Currency in the Macro-economy (Closed System)

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This model of the macroeconomy (closed social system) is as comprehensive as possible without it being too complicated (according to Prof. Einstein's dictum for providing in an explanation as much simplification, but not too much). In the past the tradition of 2 and 3 sector models (householder/producer etc.) were oversimplified. In this model there are 6 "entities" all of which play vital roles in the complete system. Their 19 individual roles or functions can be seen when the various flows of... More
Technical Format: Wiki
Date Added to MERLOT: November 21, 2011
Date Modified in MERLOT: November 22, 2011
Submitter: David Chester
Keywords: social-system, Government, Capitalist, Money, Bank (Finance-Institution)., House-Holder, Circulation, Macroeconomics, Producer, Landlord, flow-diagram


  • Editor Review avg: 4 rating
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Primary Audience: High School, College General Ed, College Lower Division
Mobile Compatibility: Not specified at this time
Technical Requirements: The image is a diagram which is in pdf format. It is useful for providing explanations about how our social system works.
Language: English
Cost Involved: no
Source Code Available: unsure
Accessiblity Information Available: yes
Creative Commons: Creative Commons License
This work is licensed under a Attribution-NoDerivs 2.5 Israel


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