What component is responsible for dynamics ?

Listen to some Klipschorns.

Then there's both macro and micro dynamics to take into account. Brute force macro dynamics are one thing, and you can find that with efficient speakers for the most part. But those micro dynamics are what truly raises a good system to great territory, and that means finesse in the entire audio chain.

The horn component.

The Speaker

Well , thank you for your contributions one and all .
I figured that the system as a whole would be a "total" contributing factor . Kind of like every other aspect of the sound . What I was looking for was the one that would make the biggest difference and the speaker seems like that one component . I guess that is why I posted my querry in this forum .
I do find it interesting that the efficiency of the speaker has an effect on the dynamics .

Duke and John;
You two build with two different driver designs , is there an opinion on the type of drivers that work best for dynamics ? I don't want to start a battle here , just personal opinions .

Again , thank you one and all .