
Minsky: system dynamics with a Godley twist
System dynamics via flowcharts and double-entry tables
- 98 paid members
- 165 posts
Minsky is a member of the family of system dynamics programs, which includes Stella, Vensim, IThink, Mathematica System Modeler, Simulink, etc. These programs use flowchart-style logic to design models of dynamic processes, where changes to one variable can cause "feedback effects" on other variables in a system.
In addition to supporting this flowchart approach to building dynamic models of systems, Minsky has a unique feature: Godley Tables.
Godley Tables follow the rules of double-entry bookkeeping, making them ideal for modelling financial processes. They also apply the rule that one entity's financial asset is another entity's financial liability to enable a comprehensive model of financial processes for an entire economy--or an entire company, if you want to model its internal dynamics. These tables are far easier to write, edit, and understand, than flowchart models of the same processes.
Total members
Paid members
Posts