Policy and path dependence: from QWERTY to Windows 95

Article Abstract:

The path dependence theory as it applies to public policy suggests that insignificant accidents of history determine the shape of the economy. The concept is similar to the idea of chaos in physics and mathematics and the idea of contingency in biology. In the world of path dependence, all events are interconnected and that these interconnections are intertemporal. However, because people tend to ignore these interconnections, they get locked in to unreasonable results and are committed to unfortunate paths.

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Alternative to regulation: a study of reform in New Zealand

Article Abstract:

New Zealand's experience with regulatory reform could serve as a model for other countries wishing to attain the same level of development New Zealand has attained. Privatization of the communications industry, the creation of property rights to manage state forests and the deregulation of the labor markets have all resulted in an economy more open and transparent than that the US so it would be worthwhile for some governments to adopt the same approach.

Economic Programs, Administration of Economic Programs, New Zealand, Political reform

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Libertarian advice: superfluous or essential?

Article Abstract:

Economist Fred McChesney uses the most negative views and outcomes of deregulation to support his case against regulatory changes. Yet economic analysis, such as by Economist Richard Posner, shows the value of less regulation.

United States, Research and Development in the Social Sciences and Humanities, Economists, Posner, Richard A., Beliefs, opinions and attitudes, McChesney, Fred

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