Modelling an Intelligent Schemes for Black Money versus Poverty Using Fuzzy Cognitive Map

The economy of the world, its association with poverty and black money has been a long untold story that used to have a major contribution in shaping our society but only a little scientific analysis was available in past centuries. In the present decade, the focus has again been diverted to these topics and an in-depth study has been made on various issues that can’t be described exactly by the mathematical models developed so far. The major tool in shaping this science is Fuzzy Cognitive maps. It has been applied to wide areas including decision-making, managing, and study of the different complicated processes where measurements are not available or imprecise. This tool can be used to simulate a very complicated process that is experimentally infeasible. The present study revolves around the fact that using FCM along with the intuition behind the process, highly accurate models can be developed that exactly predicts the future with a very minimal degree of uncertainty. Various concepts related to the economy has been used to develop this model and results are astounding, based on the results solution to the present-day problems has also been proposed.