Douglass North Quotes

A collection of quotes by Douglass North.

Douglass North was an esteemed American economist and historian, best known for his pioneering work in economic history and institutional economics. He was born on November 5, 1920, in Cambridge, Massachusetts, and passed away on November 23, 2015.

North received his undergraduate education at the University of California, Berkeley, before earning his Ph.D. in economics from the University of California, Berkeley in 1952. He held several academic positions throughout his career, including professorships at the University of Washington, University of British Columbia, and Washington University in St. Louis.

North's influential research focused on the role of institutions in shaping economic development. He argued that institutions—both formal and informal—play a crucial role in creating the incentives and constraints that influence economic behavior and outcomes. His influential book, "Institutions, Institutional Change, and Economic Performance," co-authored with Barry R. Weingast, proposed a framework for understanding how institutions evolve and impact economic growth.

In recognition of his groundbreaking contributions, Douglass North was awarded the Nobel Memorial Prize in Economic Sciences in 1993. He remains an influential figure in the fields of economic history and institutional economics, with his work continuing to shape our understanding of the interplay between institutions and economic development.