Increasing Returns and Path Dependence in the Economy

This book brings together Professor Arthur’s pioneering article and provide a comprehensive presentation of his exciting vision of an economics that incorporates increasing returns. After a decade of resistance from economists, these ideas are now being widely discussed and adopted, as Kenneth Arrow recounts in his foreword. In fundamental ways they are changing our views of the working economy.

"This beautifully written collection of essays represents one of the fundamental contributions to economic science in the last two decades."