Structure and Change in Economic History

by Douglass C. North

At the core of Prof. North's investigation is the question of property rights, the arrangements individuals & groups have made thru history to deal with the fundamental economic problem of scarce resources.
In six theoretical chapters, North examines the structure of economic systems, outlines an economic theory of the state & the ideologies that undergird various modes of economic organization, & then explores the dynamic forces such as new technologies that cause institutions to adapt in order to survive. With this analytical framework in place, major phases in Western history come under careful reappraisal, from the origins of agriculture & the neolithic revolution thru the political economy of the ancient & medieval worlds to the industrial revolution & the economic transformations of the 20th century.
Structure & Change in Economic History is a work that will reshape many established explanations of the growth of the west.

Genres: Economics, History, Nonfiction, Politics, International Relations, Essays, Social Science

240 pages, Paperback

First published January 1, 1981

About the author

Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. He was the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Economic Sciences. In the words of the Nobel Committee, North and Fogel "renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change."

Reviews

[Stuart · Rating 4 out of 5]

I have this guy as a professor this upcoming semester. An excellent theory of the importance of ideology in the enforcement of property rights and the development of states and firms to enforce those property rights at lower resource cost. If you don't have a background in economics you should probably spend an hour or so on wikipedia (or just google phrases that aren't immediately obvious--some, such as price-taking and price-making markets, have specialized meanings) in order to get the most out of the book.

I wish North had spent some more time on the development of ideology, but as he states he is an economist and not a social scientist. I look forward to re-reading this book.

[Elias Garcia · Rating 5 out of 5]

Must read for any economist. A great and beneficial read for everyone else. Douglass North truly was a prescient economist and it's too easy to see his theory playing out before our eyes in the 21st century as ideologies and technological change are increasingly causing instability in ways most economists and political scientists did not predict.

[Vance Ginn · Rating 4 out of 5]

North provides another excellent account of how institutions matter for the structure and and change of societies throughout history.

He discusses the First Industrial Revolution that primarily dealt with population growth within institutions that allowed them opportunities to prosper with private property rights instead of kings or strong leaders allocating resources.

The Second Industrial Revolution include the last couple hundred of years where people have prospered more than than ever before. Again, the key is institutions that allow people the opportunity to work and keep what they earn and purchase with strong private property rights and justice system to uphold contracts, along with economic institutions that allow markets to work efficiently in allocating resources instead of government subjectively redistributing resources.

I hadn’t read much from the Nobel Prize in Economics-winning economist Douglass North until last year, but his work, including this book, have helped me better understand the importance of institutions throughout history. It is essential for people to rebuild strong institutions and preserve those that work.

I think there could have been more examples in the book, which is why I gave it 4 stars instead of 5, but I highly recommend this book.

[Drew Danik · Rating 5 out of 5]

Books slaps, people never change except when they do.

[shuqing chen · Rating 4 out of 5]

Quite dense and a little repetitive but some interesting ideas

[Henri Tournyol du Clos · Rating 4 out of 5]

Warning : in spite of being apparently written in plain English and without mathematical symbols, this book from 1981 is not for the general public but primarily for people who have had at least a couple of years' training in economics and are intellectually alert. It is a very clear and rigorous expounding of what has become the set of fundamental principles of economic history.

[Christos Bouras · Rating 3 out of 5]

Το είχα κάποια χρόνια στην βιβλιοθήκη ως σημείο αναφοράς για κάποιο μάθημα στο Πανεπιστήμιο. Είχα διαβάσει κάποιες σελίδες παλαιόθεν για κάποια εργασία. Είπα να το πιάσω να το διαβάσω εξαρχής. Το βρήκα ακαδημαϊκό και βαρετό. Το μέρος που αφορά την οικονομική ιστορία έχει ενδιαφέρον. Το μέρος που αφορά οικονομική θεωρία είναι βαρετό και ολίγον παλιομοδίτικο.

[Rachel · Rating 3 out of 5]

This takes a more broad view than Rise of the Western World (North's earlier book) and I enjoyed the discussion of how property rights do not always lead to more efficient outcomes. I am still left with the burning question of where the underlying cultures come from (the things North seems to take as initial conditions) but that is a difficult question to answer.

[Max Sacher · Rating 5 out of 5]

An econ book that's actually about econ. Been awhile.

[Richard Marney · Rating 5 out of 5]

Another contribution by Dr. North to the literature on the question of the role of institutions in economic development.

[Augusto Alves · Rating 4 out of 5]

Douglass North is a Nobel Laureate in Economics for his groundbreaking work on the importance of institutions for economic development.

In the first part of this book, he explains his theory on institutions, highly influenced by microeconomics and the free-rider problem. Then, in the second part, he applies this model to history, from the Neolithic revolution to the U.S. economy predating 1914. Finally, North briefly explores what has provoked changes in institutions.

I enjoyed reading this book, but I do think that North strongly simplifies history and that his theory does not have the empirical grounds that he'd hoped. Also, in multiple chapters, he asks for a profound conceptualization of ideology, but, interestingly enough, he does not even draft considerations about it or give it a precise definition.

[Abdulrahman Suleiman]

this book elaborate the how nations have struggle hard, in both agricultural, scientifically and with the combination of modern technology to achieve socio-economic, political and structural development.

[Joshua · Rating 5 out of 5]

Serious business.

[Nio03 · Rating 4 out of 5]

Great read. A must!