A new type of socio-economic system

Existing models of our socio-economic system have proved to be of rather limited predictive usefulness. This is particularly true with respect to predictions about the effects of alternative governmental actions and with respect to any predictions of a long-range character. It is even the case with respect to very short-run forecasting. In addition, it is recognized that current models of our socio-economic system have an unduly narrow reach in that they have little to say about such fundamental things as the size and location of the population of individuals, of households, or of firms.