So in prior posts I mentioned computational law and computational audit.
In this post I want to provide an example of computational economics which is another example of a symbolic system. Here is a definition of computational economics.
I read a book over the weekend, The Deficit Myth, which explains Modern Monetary Theory (MMT). MMT like other economic theories have models. Here is one model from MMT: (from here)
(T-G) + (S-I) + (M-X) = 0
I took that MMT model and some other things from the book and represented in in XBRL. Here is my first draft:
Again, what I have right now is just a draft. I want to do this for, say, multiple different governments like the US, UK, Japan.
What if these models and data were provided in machine readable form? What if the information format was standardized rather than being provided in Excel or CSV? What if the rules where not embedded in Excel, but rather publicly available and usable across models?
I am going to build out my MMT model and put in real data in order to check out MMT to see if it makes sense. So, stay tuned.