Structure and Change in Economic History - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Structure and Change in Economic History write by Douglass Cecil North. This book was released on 1981. Structure and Change in Economic History available in PDF, EPUB and Kindle. In this bold, sweeping study of the development of Western economies, Douglass C. North sets forth a new view of societal change.
Institutions, Institutional Change and Economic Performance
Institutions, Institutional Change and Economic Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Institutions, Institutional Change and Economic Performance write by Douglass C. North. This book was released on 1990-10-26. Institutions, Institutional Change and Economic Performance available in PDF, EPUB and Kindle. An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures.
Institutional Change and American Economic Growth
Institutional Change and American Economic Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Institutional Change and American Economic Growth write by L. E. Davis. This book was released on 1971-09-24. Institutional Change and American Economic Growth available in PDF, EPUB and Kindle. This book presents a model for examining problems of institutional change and applies it to American economic development in the nineteenth and twentieth centuries. The authors develop their model of institutional change. They argue that if external economic factors make an increase in income possible but not attainable within the existing institutional structure, new organizations must be developed to achieve the potential in income. Their model is designed to explain the type and timing of these necessary changes in institutional organization. Individual, voluntary cooperative, and governmental arrangements are included in the discussion, although the latter differs considerably from the first two.
Understanding the Process of Economic Change
Understanding the Process of Economic Change - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Understanding the Process of Economic Change write by Douglass C. North. This book was released on 2010-04-19. Understanding the Process of Economic Change available in PDF, EPUB and Kindle. 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. North argues that economic change depends largely on "adaptive efficiency," a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances. 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.
An Evolutionary Theory of Economic Change
An Evolutionary Theory of Economic Change - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook An Evolutionary Theory of Economic Change write by Richard R. Nelson. This book was released on 1985-10-15. An Evolutionary Theory of Economic Change available in PDF, EPUB and Kindle. This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
