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Market versus government in the light of the discussion about path dependence

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  • Joanna Dzionek-Kozlowska

    (University of Lodz)

Abstract

An initial aim of the article is to specify when path dependency leads to undermining the efficiency of the market. The possibility of lowering the effectiveness of the market allocation mechanism leads towards consideration of reduction of negative consequences of path dependency by government. In such cases the role of the state seems limited, firstly because of the nature of the phenomenon (difficulties with prediction of far-reaching effects of certain solution), and secondly because of the high costs of the system created for monitoring of technological development.

Suggested Citation

  • Joanna Dzionek-Kozlowska, 2010. "Market versus government in the light of the discussion about path dependence," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 6(1), pages 87-100, December.
    • Handle: RePEc:cpn:umkeip:v:6:y:2010:i:1:p:87-100
    DOI: 10.12775/EiP.2010.006
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    References listed on IDEAS

    as
    1. Puffert, Douglas J., 2002. "Path Dependence in Spatial Networks: The Standardization of Railway Track Gauge," Explorations in Economic History, Elsevier, vol. 39(3), pages 282-314, July.
    2. Paul David, 1997. "Path Dependence and the Quest for Historical Economics: One More chorus of Ballad of QWERTY," Oxford Economic and Social History Working Papers _020, University of Oxford, Department of Economics.
    3. Liebowitz, S J & Margolis, Stephen E, 1995. "Path Dependence, Lock-in, and History," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 11(1), pages 205-226, April.
    4. Paul A. David, 1997. "Path Dependence and the Quest for Historical Economics: One More chorus of Ballad of QWERTY," Oxford University Economic and Social History Series _020, Economics Group, Nuffield College, University of Oxford.
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    More about this item

    Keywords

    market failure; government failure; economic policy; path dependency;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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