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A Branch of Economics

 
 
gollum
 
Reply Mon 24 Jul, 2017 09:57 am
The way human society has developed is based on addressing present problems rather than finding the best solutions from the ground up.

For example, when the manual typewriter was first invented, the keyboard configuration starting with QWERTY was decided upon to slow down the typist because fast typing caused keys to jam.

Now with electronic keyboards, we do not need a slow keyboard configuration. But we are unwilling to switch to a truly better keyboard configuration because we are too invested in the old QWERTY system.

What is the word for this? That we are not finding what is best but just patching that which came before.
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Kolyo
 
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Reply Mon 24 Jul, 2017 03:31 pm
@gollum,
gollum wrote:

What is the word for this? That we are not finding what is best but just patching that which came before.


"Path-dependence" ?

I heard the term used on NPR recently, to describe the reasons why obamacare is the way it is.
gollum
 
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Reply Mon 24 Jul, 2017 04:09 pm
@Kolyo,
Kolyo-

Yup!

Thank you very much.
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