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Lives of the LaureatesTwenty-three Nobel Economists$
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Roger W. Spencer and David A. Macpherson

Print publication date: 2014

Print ISBN-13: 9780262027960

Published to MIT Press Scholarship Online: May 2015

DOI: 10.7551/mitpress/9780262027960.001.0001

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Douglass C. North

Douglass C. North

(p.161) Douglass C. North
Lives of the Laureates

Roger W. Spencer

David A. Macpherson

The MIT Press

This chapter deals with the life and work of Douglass C. North who was awarded the Nobel Prize in 1993. North was born in 1920 and recieved his B.A. and Ph.D. from the University of California, Berkeley. He held several teaching jobs after graduating before becoming professor of economics at the University of Washington in 1960. He was appointed Spencer T. Olin emeritus professor of arts and sciences, Washington University in 2012. He developed several theories including the neoclassical theory of the state, the general model of political markets which compared political with economic markets, and the theory of institutional change. His publications include Structure and Change in Economic History and Institutions, Institutional Change, and Economic Performance.

Keywords:   Douglass C. North, neoclassical theory of the state, political markets, institutional change

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