This video examines the role of institutions in complex systems. Institutions are “sticky”—once they are established, they tend to get “locked-in” over long periods of time during which they experience only small, incremental change (path dependence). But these periods of stability are occasionally punctuated by “critical junctures”—moments of contingency in which old rules break down and a range of new possibilities open up.
Produced and narrated by Dr. Michael Lawrence.
