Radzicki, Michael J.; Tauheed, Linwood - In: Journal of Economic Issues 43 (2009) 4, pp. 1043-1061
In a 2006 paper, Professor Gregory Hayden argued that system dynamics is an inadequate tool for explaining the institutional systems principles of hierarchy, feedback and openness. The purpose of this paper is to show that many of Professor Hayden's claims are either misguided or incorrect. The...