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Books by Douglass C. North

Institutions, Institutional Change and Economic Performance
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4.12 avg rating — 699 ratings — published 1990 — 4 editions

Violence and Social Orders: A Conceptual Framework for Interpreting Recorded Human History
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4.02 avg rating — 300 ratings — published 2009 — 24 editions

The Economics of Public Issues (HarperCollins Series in Economics)
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3.50 avg rating — 268 ratings — published 1961 — 25 editions

Structure and Change in Economic History
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4.04 avg rating — 194 ratings — published 1981 — 12 editions

The Rise of the Western World: A New Economic History
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3.83 avg rating — 165 ratings — published 1973 — 17 editions

Understanding the Process of Economic Change
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3.87 avg rating — 155 ratings — published 1998 — 17 editions

Anarchy and the Law: The Political Economy of Choice (Independent Studies in Political Economy)
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4.42 avg rating — 69 ratings — published 2007 — 9

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Douglass C. North recently passed away at the age of 95 at his home in Benzonia, Michigan. He was among the most important and influential economic historians and economists of the late 20th century. He will be deeply missed by his family, friends, colleagues, and students.

North was a leader of the generation of economic historians who brought neoclassical economics directly into the study of history – the ‘new’ economic history. And then realising the incompleteness of the neoclassical tools for understanding long-term change, he was a leader of a generation of economists and social scientists who brought the importance of institutions into a central position within economics – the ‘new’ institutional economics.

North long emphasised the importance of history and of neoclassical economics. He criticised both disciplines for their complacency about the adequacy of the current conceptual and methodological consensus on how history or economics should be done. He always operated within a framework of individuals who act intentionally (neoclassical economics matters) and who perce

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Douglass North

American economist and Nobel laureate (1920–2015)

Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. Along with Robert Fogel, he received the Nobel Memorial Prize in Economic Sciences in 1993. In the words of the Nobel Committee, North and Fogel "renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change."^[1]

North was an influential figure in New Institutional Economics, which emphasizes the impact of institutions on economic behaviors and outcomes. North argued, "Institutions provide the incentive structure of an economy; as that structure evolves, it shapes the direction of economic change towards growth, stagnation, or decline." Rational and wealth-maximizing individuals lack complete information and have difficulties monitoring and enforcing agreements. Institutions can provide information and reduce transaction costs, thus encouraging economic activity.

Biography

Douglass Nor