Professor Kaoru Yamaguchi, PhD, was awarded the prestigious Friede-Gard-Prize for Sustainable Economics 2025 during the World Expo Osaka. The ceremonial handover of the prize certificate by Professor Klaus Helling from Umwelt-Campus Birkenfeld took place at a small ceremony in the German pavillon.
Professor Yamaguchi was honored for his outstanding scientific contributions to a sustainable economics, especially for his modeling of an alternative monetary system, the so--called Public Money system. He is internationally renowned for his application of the System Dynamics approach towards various macroeconomic theories and their analysis with regard to stability and crisis resilience.
Professor Yamaguchi obtained his PhD at the University of California, Berkeley, and follwoing this started to investigate the dynamic behavior of economic systems - both of the neoclassic and the keynesian type - by means of System Dynamics (a method piioneered by Professor Jay Forrester snce the 1950’s). His work led him to realize that the traditional debt-money systen is immanently instable in both contexts and favors boom-bust-cycles. In further research he developed the Public Money system that is based on ideas of Professor Irving Fisher dating back to the 1930s.
Professor Yamaguchi was awarded the Fried-Gard-Prize 2025 especially for:
Firstly the detailed demonstration of the instability of the present debt-money system. Secondly the modeling of the Public Money system using System Dynamics in a double-entry accounting context, thereby assuring consistency of flows. Thirdly the demonstration of a smooth transition from the present system to the alternative one. Finally with his concept of MuRatopia/Green Village he has delivered a model sketch of a socially sustainabale society.
These models could be used as a viable basis for constructive discussion and stimulation for fruitful further development towards a sustainable economics.
The prize awarding will conclude with two online events on Saturday, October 18th. At first a detailed appreciation of the award winner beginning from 9 p.m. CET, starting with an introduction to the concept of Public Money by Prof. Dr. Joseph Huber, then the laudation by Prof. Steve Keen, PhD (Friede-Gard-Prize winner of 2022) , and finally the award speech of Prof. Kaoru Yamaguchi, PhD. After a short break Professor Yamaguchi will hold a seminar with an in-depth presentation of his research (finishing around 3 p.m.).
Application is open now, via https://www.umwelt-campus.de/anmeldung-friede-gard-preisverleihung (participation is at no cost).
Further information on Prof. Yamaguchi and his work can be found on the homepage of the Friede-Gard-Prize at the website of the Umwelt-Campus Birkenfeld (www.umwelt-campus.de/friede-gard-preis).