Dynamic Equilibrium
Source: Zhang et al (2020)A Simple Macroecnomic Model based on Solow Growth Model
Dynamic equilibrium simply refers to a state where opposing forces can achieve a level of balance. Thus in the midst of changing conditions, living organism tends to find stability, through continuous adjustments, in achieving a state of equilibrium. In physics, a reversible process will be found when the forward and reverse motion occur at the same rate. In this case, there will be no observable change in the overall system. Once such a balanced state is reached, the concentrations or partial pressures of all organisms, species, processes, and operations will remain constant. Whereas, in economics, in a static equilibrium where all quantities have unchanging values, in dynamic equilibrium, various factors and quantities may be changing or growing at the same rate. In the neoclassical growth model (fig.1) output and physical stock also grow at the same rate with output per worker, and the capital stock per worker unchanging. Simply put, in consumer theory, the forces of demand and supply adjusts to changes in consumer preferences, production costs, and fluctuations in prices. While the supply and demand curves are constantly moving, and remain balanced, ensuring the market clears where there is no excess demand or supply, prices adjusts to achieve an equilibrium, in the long run. In essence, it is at this point that a balanced and efficient market is created. Despite the simple nature of the economics Neo-classical Solow Growth Model (fig 1), it is a dynamic general equilibrium model that specifies a steady state in which varied factors grow at constant rate.
Newton’s second law signifies the law of force and acceleration. An object is acted open by several external forces in a manner that the resultant force is zero. In this case the objects keep moving with the same velocity. A reversible process is said to take place when forward and backward forces occur at the same time. Newton’s second law provides a clear framework on how forces interact and balance out, enabling us to accurately predict and analyze the behavior of very complex systems and human interactions. In a dynamic equilibrium, given F = ma, the net force (F) acting on any objects zero, which means that the forces acting on the object are balanced, and we can conclude that the acceleration (a) of the object is zero, and it is not changing its state of motion. Just like Newton’s Second law which describes the relationship between forces and acceleration, we can therefore consider human emotions as forces that either propel us forward or hold us back. However, there is no analogy between Newton’s Law and human emotions, but there is a clear similarity between forces, opposing forces, acceleration, and momentum, that acts on human feelings, sensation, and sentiments.
In psychology, dynamic equilibrium simplifies the process of maintaining a balance between conflicting human emotions, thoughts, beliefs, and behaviour. It is generally a concept of a balancing act between adjusting and adapting between opposing and conflicting emotions. This recognizes that humans are complex beings with constantly changing patterns of behavior, influenced by experiences, emotions, and relationships. Achieving an equilibrium, in human psychology simply means finding a balance that ultimately allows for growth, successes, resilience, and overall mental health. Maintaining an equilibrium between changing patterns of human emotions is a crucial aspect of achieving personal leadership success. Several strategies that are required to striking a balance, are critical for leadership success. Finding a balance in our emotions is a process, and it is important to experience a range of emotions necessary for social interactions and relationships. By adopting these strategies, an individual can develop greater resilience and flexibility in navigating the complex emotional landscape.
Dynamic equilibrium in human emotions involves achieving a state of emotional equilibrium necessary for attainment in recognizing and acknowledging our emotions as they develop. Psychologists have identified several strategies in achieving an equilibrium, and these include, self awareness, emotional regulation techniques, self compassion, self-care, and social support. Emotional equilibrium is vital for leaders because it enables us to communicate effectively and efficiently with the team, build trust and loyalty, empathy, strong interpersonal relationships, adapting to change, conflict resolution, providing stability and moral guidance, and cultivating a more robust and productive team environment. All these helps leaders to effectively create a better work environment and personal success. Emotional balance is a sufficient condition for personal leadership success.
Emotional instability is detrimental to health, personal relationships, team building, and socioeconomic environment. Genetics, personal life experiences, and environmental factors are responsible for the imbalance. Managing people and personal lives is quite challenging to leaders, and the overall outcome is daunting and can have a staggering impact on our lifelong quest to navigate the complex road to personal leadership success. HBR (2018) opined that leaders constantly avoid making tough decisions, and this delay results in more damage than whatever fallout they are trying to avoid. Impulsive decisions, emotional outburst, favoritism, bias, unfair decisions, lack of empathy, lack of trust, poor communication, demotivate team members, lack of conflict resolution, and creating a toxic work environment, are some of the possible outcomes when leaders fail to achieve emotional equilibrium. The end game is a chaotic work environment, impelled workforce, lower morale and productivity, and falling profits.
Human behavior is dynamic and it is influenced by genetics and human biology, environment, upbringing, societal culture and social norms, personal experiences, our thoughts and beliefs, human motivation and lifelong goals, and ultimately, interactions and other social dynamics. With opposing forces, momentum, influence, and behavior, these factors can change over time, leading to changes in behavioral patterns. Studies have shown that humans have the capacity to self-reflection and behavior change, however, this makes behavior even more dynamic. Leaders with more balanced emotions tends to be more successful and are better equipped to manage stress levels, communicate effectively, make sound decisions, are more likely to be empathetic, build strong relationship, and create a positive and productive work environment. Ultimately, all these leads to increased productivity, employee satisfaction, and overall personal leadership success. Achieving a dynamic equilibrium in human emotion is a necessary and sufficient condition for personal leadership success.
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