The idea of path dependence is one popularized by the renowned Nobel Laureate Douglas North. The basic idea can be summarized as the following: "Actions in the present are constrained by actions in ...

There are two words guaranteed to get you escorted out of most development agencies, or sidelined in current development debates – they are: "dependency theory". Gone are the heydays of the 1970s when ...

Prime Minister Boris Johnson’s push to give renewed prominence to the old imperial system of weights and measures in the United Kingdom is stirring fresh interest in a fascinating corner of economics: ...