Path-dependence, expectations and economic regulation: elements of analysis from a posst-keynesian perspective

Abstract

The article looks for making a relation between the path-dependence, the expectational nature of investment and the economic fluctuations, from a post-keynesian analysis view. On a non-ergodic environment, in order to the system receive a relative stability through time, the economic regulation requires much more than additional adjustments. It makes necessary, and possible, qualitative modifications of the economic system. These modifications are analyzed by the concept of bifurcation.

path-dependence; investment; uncertainty; economic regulation; bifurcation