Douglass North

Person · Open Library

Works

4

via Open Library + Wikidata

Music · MusicBrainz

Type

Person

Gender

Male

Origin

United States

Active from

1910-12-04

Active to

1991-09-08

via MusicBrainz · CC0

Recent publications · Crossref

5 total works indexed

1. Institutions, Institutional Change and Economic Performance

   · 1990 · cited 23,051x

2. A global reference for human genetic variation

   · 2015 · cited 17,787x

3. Heart Rate Variability

   · 1996 · cited 11,717x

4. Toxicity and response criteria of the Eastern Cooperative Oncology Group

   · 1982 · cited 9,445x

5. GW170817: Observation of Gravitational Waves from a Binary Neutron Star Inspiral

   · 2017 · cited 8,261x

via Crossref · CC0

Quotes

• “Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market. (footnote 4: The original contributions were those of Hayek (1937 and 1945)).”
• “Institutions are the humanly devised constraints that structure political, economic, and social interaction. They consist of both informal constraints (sanctions, taboos, customs, traditions, and codes of conduct), and formal rules (constitutions, laws, property rights). Throughout history, institutions have been devised by human beings to create order and reduce uncertainty in exchange.”
• “In some respects this is intended to be a revolutionary book, but in other respects it is very traditional indeed. It is revolutionary in that we have developed a comprehensive analytical framework to examine and explain the rise of the Western world; a framework consistent with and complementary to standard neoclassical economic theory.”
• “Its objectives to suggest new paths for the study of European economic history rather than fit either of these standard formats. It is more than anything an agenda for new research.”
• “The factors we have listed (innovation, economies of scale, education, capital accumulation, etc.) are not causes of growth; they are growth.”
• “By that time a structure of property rights had developed in the Netherlands and England which provided the incentives necessary for sustained growth. These included the inducements required to encourage innovation and the consequent industrialization. The industrial revolution was not the source of modern economic growth. It was the outcome of raising the private rate of return on developing new techniques and applying them to the production process.”

via Wikiquote · CC BY-SA

Key facts

Born

( 1920-11-05 ) November 5, 1920, Cambridge, Massachusetts , U.S.

Died

November 23, 2015 (2015-11-23) (aged 95) , Benzonia, Michigan , U.S.

Spouses

Lois Heister ​ ​ ( married</span>"}]]}'>m. 1944 ; divorced</span>"}]]}'>div. 1972 ) ​ Elisabeth Case ​ ( married</span>"}]]}'>m. 1972 ) ​

Awards

Nobel Memorial Prize in Economic Sciences (1993)

Education

University of California, Berkeley (B.A., Ph.D.)

Thesis

The Large Life Insurance Companies Before 1906: A Study of Their Growth, Their Domination of the Industry, and Their Alliances With Investment Banking as Revealed by the Armstrong Investigation of 1905–1906 (1952)

Influences

Melvin M. Knight

School or tradition

New Institutional Economics

Institutions

University of Washington , Rice University , Cambridge University , Washington University in St. Louis , Stanford University , Hoover Institution , US Merchant Marine Academy

via Wikipedia infobox

🏅Nobel Prize

• The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel1993

  “for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change”

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