Path dependency
A commercial & social nightmare Ever notice that footpaths, especially in the rural areas and villages across South Africa, do not make sense. They are winding, and at times non-efficient as a road to get you to where you need to go. But everyone uses it. . . This issue is not unique to rural villages or Africa as a whole. It is a present throughout the world, from paths made in the snow in Europe and the USA, to paths in the outback of Australia and Asia. The same thing seems to be the case — winding roads that make no sense, yet everyone uses them. This strange human issue exist outside the 'harmless' paths in veldts and in snow, and can be found in industry, business and society as a whole. There is a name for this, economists call it Path Dependency Path dependence explains how the set of decisions people face for any given circumstance is limited by the decisions they have made in the past or by the events that they experienced, even though past ...