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Volume 21  Number 1  •  Summer 2016
Other Issues:  

Douglass C. North
The Answer Is “Transactions Costs”
By Michael C. Munger
This article appeared in the Summer 2016 issue of The Independent Review

What made Douglass C. North brilliant was in part his unusual ability to see that transactions costs—barriers to exchange, broadly speaking—take many forms and can have major consequences. This vision guided much of North’s scholarship, from his early contributions to New Institutional Economics to his later work on state violence.

 PDFRead the Full Article (PDF, 4 pages)

Other Independent Review articles by Michael C. Munger
    Spring 2018   Private Government
    Winter 2018   On the Origins and Goals of Public Choice
    Winter 2018   Overlooked Costs of War-Related Public Research
[View All (30)]