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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Other Independent Review articles by John V. C. Nye
    Summer 2014   Ronald Coase
    Summer 2008   From the Corn Laws to Free Trade
    Spring 1997   Democracy and International Trade