Douglass C. North


Born
in Cambridge, Massachusetts, The United States
November 05, 1920

Died
November 23, 2015

Genre


Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. 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."

Average rating: 3.93 · 1,366 ratings · 118 reviews · 29 distinct worksSimilar authors
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The Rise of the Western Wor...

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3.76 avg rating — 114 ratings — published 1973 — 7 editions
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Understanding the Process o...

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The Economic Growth of the ...

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In the Shadow of Violence: ...

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3.67 avg rating — 33 ratings — published 2012 — 10 editions
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Growth & Welfare in the Ame...

3.50 avg rating — 8 ratings — published 1973 — 2 editions
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Abortion, Baseball & Weed: ...

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3.67 avg rating — 6 ratings — published 1973
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Transaction Costs, Institut...

3.60 avg rating — 5 ratings
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More books by Douglass C. North…
“Conformity can be costly in a world of uncertainty.”
Douglass C. North, Understanding the Process of Economic Change

“The opportunities for political and economic entrepreneurs are still a mixed bag, but they overwhelmingly favor activities that promote redistributive rather than productive activity, that create monopolies rather than competitive conditions, and that restrict opportunities rather than expand them. They”
Douglass C. North, Institutions, Institutional Change and Economic Performance

“But so, too, can unproductive paths persist. The increasing returns characteristic of an initial set of institutions that provide disincentives to productive activity will create organizations and interest groups with a stake in the existing constraints. They will shape the polity in their interests…Such institutions provide incentives that may encourage military domination of the polity and economy, religious fanaticism, or plain, simple redistributive organizations, but they provide few rewards from increases in the stock and dissemination of economically useful knowledge… The subjective mental constructs of the participants will evolve an ideology that not only rationalizes the society's structure but accounts for its poor performance. As a result the economy will evolve policies that reinforce the existing incentives and organisations.”
Douglass C. North, Institutions, Institutional Change and Economic Performance

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