This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volumeΒ examines how path dependency is linked with notions of fundamental uncertainty, non-ergodicity and hysteres
Increasing Returns and Path Dependence in the Economy
β Scribed by W. Brian Arthur
- Publisher
- University of Michigan Press
- Year
- 1994
- Tongue
- English
- Leaves
- 225
- Series
- Economics, Cognition, and Society
- Edition
- Paperback
- Category
- Library
No coin nor oath required. For personal study only.
β¦ Synopsis
Pioneering work on an important new approach to economics.
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The author recognizes thatΒ increasing returns play havoc to much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helpingΒ t
Selected papers from many leading Australian, American, Asian, British and European economists of an international conference at Monash University sparked by the first Australian visit by Kenneth J. Arrow, Nobel Laureate in Economics. Part 1 extends the recently emerged New Classical Economics which