File Name: douglass north structure and change in economic history .zip
Douglass Cecil North November 5, — November 23, was an American economist known for his work in economic history. 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. Douglass North was born in Cambridge, Massachusetts , on November 5, He moved several times as a child due to his father's work at MetLife.
Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework.
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Ira A. Glazier, Douglass C. Structure and Change in Economic History. New York: W. Most users should sign in with their email address. If you originally registered with a username please use that to sign in. To purchase short term access, please sign in to your Oxford Academic account above.
Douglass North is a pivotal figure in the development of the 'new' economic history as well as the 'new' institutional economics. However, the relationship.
Francesco Boldizzoni, The Poverty of Clio. Resurrecting Economic History. Simon Kuznets and the Empirical Tradition in Economics. John Lyons, Louis P. Cain, and Samuel H.
The article reviews several books by Douglass C. Learn About the New eReader. Downloaded 7 times in the past 12 months. Published online 1 July Published in print 1 July
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Meaning matters. North in particular thinks that the budget line of anti-property violence was shifted in the late 17th century. It was not: on the contrary, England was a land of property rights from the beginning. The timing is wrong. Incentive Prudence Only is not the main story, and cannot be the main story without contradiction: if it was Prudence Only the Industrial Revolution would have happened earlier, or elsewhere.
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