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The goal of Omanization as a comprehensive focus of the productive and social transformation of the Omani economy with the retention of her domestic output and labour component in total national economic activity is studied by using the methodology of circular feedback between some critical macroeconomic variables that relate to oil and non-oil sectoral development. The existing scenario points out that the structural shape of inter-sectoral allocation of resources and their socio-economic results is based on marginal rates of substitutions. Contrarily, the development structure based on inter-sectoral and inter-variable causality leads to the suggestion of the complementary (participatory) development outlook. The emergent model of circular causation is used to study both cases; the ‘as is’ estimation case and the ‘as it ought to be’ simulation case in view of eff ective Omanization taken up in its broad defi nition of socio-economic sustainability. The simulation results that give rise to fresh directions on socio-economic structures and policy-making are further studied by the method of Spatial Domain Analysis of the GIS method. Keywords: Economic development, development planning, sectoral planning, Oman development policies.

The goal of Omanization as a comprehensive focus of the productive and social transformation of the Omani economy with the retention of her domestic output and labour component in total national economic activity is studied by using the methodology of circular feedback between some critical macroeconomic variables that relate to oil and non-oil sectoral development. The existing scenario points out that the structural shape of inter-sectoral allocation of resources and their socio-economic results is based on marginal rates of substitutions. Contrarily, the development structure based on inter-sectoral and inter-variable causality leads to the suggestion of the complementary (participatory) development outlook. The emergent model of circular causation is used to study both cases; the ‘as is’ estimation case and the ‘as it ought to be’ simulation case in view of eff ective Omanization taken up in its broad defi nition of socio-economic sustainability. The simulation results that give rise to fresh directions on socio-economic structures and policy-making are further studied by the method of Spatial Domain Analysis of the GIS method. Keywords: Economic development, development planning, sectoral planning, Oman development policies.

Macroeconomic policy coordination and the fi eld of micro-foundation of the macroeconomic theory have been riddled with the contest of claimed effi cacy between the Keynesian school and the monetarist school. Keynesianism upheld the predominance of fi scalism (spending) in economic stabilization on the one side. Friedman’s monetarist theory vouched for the same on the other side. As a result of the monetary and fi scal contest between the two schools a convergence between them could not be att ained. Such a divide is similar in economic science as it has been a fi asco thus far in the physical sciences between Quantum Mechanics explaining the small world phenomenon, and Relativity Physics explaining the large world phenomenon. The nonhomogenous views of a unique reality in economics, as in science, have defied the unifi cation of theories and application for the greater objective of wellbeing in an embedded social economy, beyond sheer address of the stabilization question. Our paper strides out in the new direction of a socioscientific epistemological worldview of the unifi cation of monetary and fi scal (spending) regimes in a consolidated theory of complementarities between them. The paper does this by breaking new grounds that are based on the model of organic unity of knowledge, which acts upon the simulation of well being with the method of circular causation. A review of the literature and introduction of formalism are undertaken to expound the theme of economic stabilization by means of complementing monetary and fi scal (spending) regimes in a unifi ed theory, while addressing the simulation of well-being in a learning model of unity of knowledge. The emergent methodology presents the description of a system of inter-variables circular causation relations. An extensive review of the literature is undertaken. An empirical presentation and a case study establish the validity of the well-being model with circular causation. Keywords: Monetary and spending regimes, epistemology and economics, economic stabilization, well-being.

Macroeconomic policy coordination and the fi eld of micro-foundation of the macroeconomic theory have been riddled with the contest of claimed effi cacy between the Keynesian school and the monetarist school. Keynesianism upheld the predominance of fi scalism (spending) in economic stabilization on the one side. Friedman’s monetarist theory vouched for the same on the other side. As a result of the monetary and fi scal contest between the two schools a convergence between them could not be att ained. Such a divide is similar in economic science as it has been a fi asco thus far in the physical sciences between Quantum Mechanics explaining the small world phenomenon, and Relativity Physics explaining the large world phenomenon. The nonhomogenous views of a unique reality in economics, as in science, have defied the unifi cation of theories and application for the greater objective of wellbeing in an embedded social economy, beyond sheer address of the stabilization question. Our paper strides out in the new direction of a socioscientific epistemological worldview of the unifi cation of monetary and fi scal (spending) regimes in a consolidated theory of complementarities between them. The paper does this by breaking new grounds that are based on the model of organic unity of knowledge, which acts upon the simulation of well being with the method of circular causation. A review of the literature and introduction of formalism are undertaken to expound the theme of economic stabilization by means of complementing monetary and fi scal (spending) regimes in a unifi ed theory, while addressing the simulation of well-being in a learning model of unity of knowledge. The emergent methodology presents the description of a system of inter-variables circular causation relations. An extensive review of the literature is undertaken. An empirical presentation and a case study establish the validity of the well-being model with circular causation. Keywords: Monetary and spending regimes, epistemology and economics, economic stabilization, well-being.