ABSTRACT
For over forty years, a discipline known as System Dynamics (SD) has offered a powerful complementary tool for economics. Whereas economics emphasizes the concept of equilibrium, SD stresses almost exclusively the concept of disequilibrium and ways to model it. It has been largely ignored by economics, except for brief periods when economists enlisted to attack the bleak models predicting scenarios of global environmental collapse that SD experts produced (see Meadows et al. 1972)—scenarios that in part appear to be coming true.
