What made Douglass C. North brilliant was in part his unusual ability to see that transactions costsbarriers to exchange, broadly speakingtake many forms and can have major consequences. This vision guided much of Norths scholarship, from his early contributions to New Institutional Economics to his later work on state violence.
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|Other Independent Review articles by Michael C. Munger|
|Winter 2019||The Road to Crony Capitalism|
|Fall 2018||What Is Actually Existing Socialism?|
|Fall 2018||Social Class and State Power|
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