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3min chapter
How the Industrial Revolution Changed the World: Interview with Economist Duncan Weldon
Tides of History
The Path Dependency of Economists
Choices taken and not taken in the past affect the choices open to you in the future. Shatting as the classic example of paf dependency. The paf how you got somewhere is why we have a slintly inefficient keyboard sitting in front of me. I feel like a that's the fundamental insight for most of history, but especially for economic history. There can often be a kind of fundamental conflict between the concept of path dependency and the way economists would like to use hypothetical models to explain how markets work.
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