Path dependence is a kind of market failure. Libertarians like to pretend that market failure does not exist in free markets because market failure implies mark

Path dependence is a kind of market failure. Libertarians like to pretend that market failure does not exist in free markets because market failure implies market intervention. The authors of "The Fable of the Keys" have frequently argued against the existence of path dependence. https://eh.net/encyclopedia/path-dependence/ https://eh.net/encyclopedia/path-dependence/