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The Nobel Prizes 1993, Editor Tore Frängsmyr, [Nobel Foundation], Stockholm, 1994. This autobiography/biography was written at the time of the award and later published in the book series Les Prix Nobel/ Nobel Lectures / The Nobel Prizes. The information is sometimes updated with an addendum submitted by the Laureate.
- Prize Lecture
Douglass C. North Prize Lecture . Lecture to the memory of...
- Interview
The Sveriges Riksbank Prize in Economic Sciences in Memory...
- Banquet Speech
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- Facts
The Sveriges Riksbank Prize in Economic Sciences in Memory...
- Prize Lecture
Dec 9, 1993 · Douglass C. North Prize Lecture . Lecture to the memory of Alfred Nobel, December 9, 1993. Economic Performance through Time. I Economic history is about the performance of economies through time. The objective of research in the field is not only to shed new light on the economic past but also to contribute to economic theory by providing an ...
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Dec 9, 2015 · Douglass North, winner of the Nobel Memorial Prize in economics, was perhaps the single most influential economist of institutions. His work on economic history, and his ideas about...
Nov 27, 2015 · North’s death was also recently preceded by his two closest intellectual links: his co-recipient of the 1993 Nobel Prize, the economic historian Robert Fogel; and his co-founder of the International Society for the New Institutional Economics and 1991 Nobel laureate, Ronald Coase (Bryan 2013).
- Cliometrics
- Transaction Costs and Institutions
- Criticism of Neoclassical Theory in Economic History
- Institutions and Organisations
- Personal Reflections
- References
His first book (North 1961) was one of the first examples of quantitative economic history or ‘cliometrics’, North’s first major contribution to economics and economic history. The book presented a very neoclassical theory of economic development that emphasised the importance of geographic specialisation and division of labour, and which led him t...
The turn towards transaction costs and institutions did not mean a turn away from neoclassical economics, however. The assumption of zero transaction costs and unchanging institutions could be relaxed within the context of neoclassical theory. As North (1971) argued: “What we need is a body of theory which encompasses the traditional models of the ...
His criticism of neoclassical theory in economic history, development, and growth would culminate in North (1981), which many (including myself) believe to be his best book. The introduction and second chapter extend the argument that we must have more than a history of markets to understand economic change. The third chapter titled “A Neoclassical...
North’s fourth major contribution was to separate institutions and organisations. Since his earliest books, North always included a discussion of organisations as important, but organisations were treated as manifestations of institutions. Organisations usually disappeared from the conceptual framework, which was always neoclassical in its focus on...
I was lucky to have known Doug for most my life, beginning as his advisee for my undergraduate honours thesis in 1975. He was an exceptional human being, with a full appetite for life in many dimensions. He owned his own plane, sailboat, two ranches, and loved food, wine, and music. He profoundly appreciated how little we know about how societies a...
Davis, Lance E and Douglass C North (1971), Institutional Change and American Economic Growth, Cambridge, UK: Cambridge University Press. North, Douglass C (1958), ‘Ocean Freight Rates and Economic Development 1750–1913’, Journal of Economic History 18(4): 537-555. North, Douglass C (1961), The Economic Growth of the United States 1790–1860, Englew...
Aug 30, 2019 · After the publication of two major books using his new approach, Structure and Change in Economic History and Institutions, Institutional Change and Economic Performance, North and Robert Fogel were awarded the 1993 Nobel Memorial Prize in Economics. Over the next 22 years, North’s frame of analysis continued to expand.
Robert Fogel and Douglass North have been awarded this year’s Prize in Economics for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change. Why are some countries rich while the majority are poor?
