Modeling the Economy as a Whole: An Integrative Approach

This article integrates the social surplus approach with input‐output, stock‐flow consistent, social accounting, and social fabric modeling with a structure‐agency methodology to develop a historically grounded model of the economy. The first two sections develop a model of the monetary structure of the social provisioning process. The third section introduces agency into the model in the form of the acting organization. The fourth section uses the social fabric approach and historical context drawn from social structures of accumulation to develop a socially embedded, historically contextualized, structured‐agency model of the economy as a whole. The final section discusses the importance of the model.