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Vývojová závislost v současné ekonomii
[Path dependency in contemporary economics]


  • Jana Zajícová


The article gives an account of a recent attempt to rebuild economics along the lines of increasing returns. The current orthodoxy is criticised for overemphasizing the role of decreasing returns. For the sake of analytical rigor economists sacrifice a correct picture of the modern world, say the critics. Small events are magnified by the positive feedback. The system is thus set on a path and cannot shake off its history. Path dependent processes are illustrated by the persistence of the QWERTY keyboard. As the world is stuck with this inferior standard, government action is needed to adopt a better alternative. However, the second part of the article offers a successful refutation of the QWERTY story. This particular example of path dependency evolved into an ambitious interdisciplinary project whose aim is to introduce new, visionary approaches into the scientific thinking. The prospects of chaos theory in economics are therefore briefly outlined.

Suggested Citation

  • Jana Zajícová, 2004. "Vývojová závislost v současné ekonomii
    [Path dependency in contemporary economics]
    ," Politická ekonomie, University of Economics, Prague, vol. 2004(1), pages 103-119.
  • Handle: RePEc:prg:jnlpol:v:2004:y:2004:i:1:id:453:p:103-119

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    References listed on IDEAS

    1. Steven N. Kaplan & Joshua Rauh, 2013. "It's the Market: The Broad-Based Rise in the Return to Top Talent," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 35-56, Summer.
    2. James Lesage & Manfred Fischer, 2008. "Spatial Growth Regressions: Model Specification, Estimation and Interpretation," Spatial Economic Analysis, Taylor & Francis Journals, vol. 3(3), pages 275-304.
    3. Josh Bivens & Lawrence Mishel, 2013. "The Pay of Corporate Executives and Financial Professionals as Evidence of Rents in Top 1 Percent Incomes," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 57-78, Summer.
    4. N. Gregory Mankiw, 2013. "Defending the One Percent," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 21-34, Summer.
    5. Jitka Bartošová & Nicholas T. Longford, 2014. "A Study of Income Stability in the Czech Republic by Finite Mixtures," Prague Economic Papers, University of Economics, Prague, vol. 2014(3), pages 330-348.
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    More about this item


    increasing returns; chaos theory; QWERTY; non-linearity; positive feedback; path dependency;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • N00 - Economic History - - General - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes


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