Understanding the process of economic change
by North, Douglass C., (Douglass Cecil)
"In this landmark work, a Nobel-prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamen…
Read More ↓Title Statements
- Full title :Understanding the process of economic change / Douglass C. North.
Summary
"In this landmark work, a Nobel-prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories." "Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries."--Jacket.
Read More ↓Edition Statements
- Publication Date:©2005.
Publication Statements
- Publisher(s):Princeton University Press
- Place of Publication:Princeton, N.J
- Language:eng
- Publication Date:©2005.
The Physical Object
- Description:1 online resource (xi, 187 pages) : : illustrations.
Edition Identifiers
- ISBN:9781400829484, 1400829488
- oclc:ocn609905406
- LC Classification:HB97.3
- Dewey Decimal:330.1
Table of Contents
An outline of the process of economic change -- The issues involved in understanding economic change -- Uncertainty in a non-ergodic world -- Belief systems, culture, and cognitive science -- Consciousness and human intentionality -- The scaffolds humans erect -- Taking stock -- The road ahead -- The evolving human environment -- The sources of order and disorder -- Getting it right and getting it wrong -- The rise of the Western world -- The rise and fall of the Soviet Union -- Improving economic performance -- Where are we going?
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