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Volume 21  Number 1  •  Summer 2016
Other Issues:  

Douglass C. North: The Restless Innovator
By John V. C. Nye
This article appeared in the Summer 2016 issue of The Independent Review

Economic historian and Nobel laureate Douglass C. North (1920–2015) helped transform his profession by arguing that we should look at the role played by formal and informal laws and norms if we wish to understand why some nations are rich and others poor. His later interest in psychology, philosophy, and cognitive science foreshadowed the rise of behavioral economics and the incorporation of cultural factors into mainstream economic analysis.

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