the-evolution-of-path-dependence--new-horizons-in-institutional-and-evolutionary-economics-s---

by lars-magnusson-jan-ottosson

The notion and interpretation of path dependence have been discussed and utilized in various social sciences during the last two decades. This innovative book provides significant new insights onto how the different applications of path dependence have developed and evolved.The authors suggest that there has been a definite evolution from applications of path dependence in the history of technology towards other fields of social science. They also discuss the various definitions of path dependence (strong or weak) and explore the potential applications of path dependence in new areas such as political economy and economic geography.

With new perspectives on how the debate surrounding path dependence has evolved, this book will strongly appeal to postgraduate students and scholars of economic history, economic geography, political science and business studies.

Hardcover

First published January 1, 2009

Reviews

[Otto Lehto · Rating 3 out of 5]

This volume collects together a varied and middling selection of essays on the theme of path dependence, one of the central concepts and conundrums of complexity theory. Although understanding the concepts of evolutionary lock-ins and path dependence is essential, reading this entire volume is not. Half of the essays are rather humdrum and there is no must read piece.

A few of the best articles, while interesting in understanding institutional development, are mostly empirical surveys in economic history with only a superficial connection to the theory of path dependence. They fail to illuminate the evolution of path dependence since they depend on rather thin theoretical foundations. In my view, it is somewhat disappointing that the most sustained theoretical challenge to the concept of path dependence embedded in the collection (the article by Stephen Margolis) is itself based on rather narrow and unrealistic neoclassical assumptions. I would have liked to (also) see an article that constitutes an INTERNAL critique of p.d. from within the broader point of view of evolutionary economics and complexity economics.

The few theoretically robust articles might make this collection worth having a look at, but I would recommend reading selectively. For a theorist, it is somewhat disappointing, but for someone looking for empirical validation and refutation of the concept of path dependence in economic history, the book's empirically focused (and theoretically thin) selection will likely be appealing.