Stability in a superpower-dominated global economic system.
Journal of Economic Issues › Vol. 39 Nbr. 2, June 2005
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Stability in a superpower-dominated global economic system.
The real world is awash with "soft" variables. At the personal level, we often refer to such amorphous concepts as self-esteem, fatigue, anger, and love. At the organizational level, companies value their intangible resources, such as brand recognition, trust of their market partners, and market perception of quality (Warren 2002). However, often researchers are hesitant to include qualitative variables in their models (Richmond and Peterson 2000, 9.1). System dynamics, which originated in the 1950s as an application of control theory to industrial and urban problems (Lane 1994), holds the view that leaving soft variables out of a model is equivalent to stati...
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