Modeling Quotes - page 4
General Systems Theory, as originally intended by Von Bertalanffy, is an ideal framework for the modeling of a business enterprise. Work, in its most civilized form should enrich, empower and emancipate. Thus we must continue to find ways to support work as a humanistic, not mechanistic endeavor. We must continue to seek out new models of business that support and enhance the individual as well as the collective whole. Given all this new technology, we need new institutions for handling it.
Anthony Stafford Beer
The stampede toward "rational expectations” - widely thought to be a "revolution,” though it was only a generalization of the neoclassical idea of equilibrium-derailed the expectations-driven model building that had just left the station. In the end, this way of modeling has not illuminated how the world economy works.
Edmund Phelps
