Virtual Economy Software (VES)
Thirupalu
Sep 06, 2019 06:31 PM
We can build a virtual economy software which mocks the economy with all constraints, conditions, etc. When the new policies are framed, before their implementation, these new policies may be tested on this software to know roughly, the after effects of the new policies on the economy, before hand. This will facilitate the economists, policymakers, etc to have corrections in their policies for better results. These days, when the complex animation software is possible to be built, why would not this software be possible? This will help to avoid economic recessions..
The world economies are so complex that, it is not possible to know where their heads and tails are. Due to this complexity, it is difficult to the policy makers to know the after effects of the new policies. They simply, blindly, frame the economic policies and implement. Of course, to some extent, the already done research, will help. But, due to the magnitude of the complexity of the economy is so high, that research also, may not be suffiecient to forecast the results. If the negative effects are resulted, these negative effects, at times, may not be reversed back. Cumulatively, these effects may lead to economic recessions. To avoid this, We can build a Virtual Economy Software (VES) which mocks the economy with all constraints, conditions, etc. When the new policies are framed, before their implementation, these new policies may be tested on this software to know roughly, the after effects of the new policies on the economy, before hand. This will facilitate the economists, policymakers, etc to have corrections in their policies for better results. These days, when the complex animation software (games, animated stories, etc) is possible to be built, why would not this software be possible? This will help to avoid economic recessions..
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