Douglass North Quotes
-
Its objectives to suggest new paths for the study of European economic history rather than fit either of these standard formats. It is more than anything an agenda for new research.
-
My early work and publications centered around expanding on the analysis of life insurance in my dissertation and its relationship to investment banking.
-
I was opposed to World War II, and indeed on June 22, 1941 when Hitler invaded the Soviet Union I suddenly found myself the lone supporter of peace since everybody else had, because of their communist beliefs, shifted over to become supporters of the war.
-
I would be remiss if I left the impression that my life has been totally preoccupied with scholarly research.
-
Our family life was certainly not intellectual.
-
Karl Marx and Adam Smith both subscribed to this view. They both saw successful growth as dependent on the development of efficient property rights. Their followers appear in the main to have forgotten this.
-
Specialization in this world is rudimentary and self-sufficiency characterizes most individual households
-
I went back to graduate school with the clear intention that what I wanted to do with my life was to improve societies, and the way to do that was to find out what made economies work the way they did or fail to work.
-
My wife and I now live in the summers in northern Michigan in an environment which is wonderfully conducive to research, and where most of my work in the last 15 years has been done.
-
Institutions are the humanly devised constraints that structure political, economic, and social interactions. They consist of both informal constraints (sanctions, taboos, customs, tradition, and code of conduct) and formal rules (constitutions, laws, property rights).
-
The development of a political-economic framework to explore long-run institutional change occupied me during all of the 1980s and led to the publication of Institutions, Institutional Change and Economic Performance in 1990.
-
My record at the University of California as an undergraduate was mediocre to say the best.
-
My brother and sister are both older than I am and were born before my father went off to World War I.
-
When it came time to go to college, I had been accepted for Harvard when my father was offered the position of head of the Metropolitan Life Insurance Company office on the west coast, and we moved to San Francisco.
-
I had hoped to go to law school, but the war started, and because of the strong feeling that I did not want to kill anybody, I joined the Merchant Marine when I graduated from Berkeley.
-
Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market. (footnote 4: The original contributions were those of Hayek (1937 and 1945)).
-
I went to elementary school in Ottawa, and then to a private secondary school.
-
In 1972 I married again, to Elisabeth Case; she continues to be wife, companion, critic and editor: a partner in the projects and programs that we undertake.
-
We are far from understanding how to achieve adaptively efficient economies because allocative efficiency and adaptive efficiency may not always be consistent. Allocatively efficient rules would make today's firms and decisions secure - but frequently at the expense of the creative destruction process that Schumpeter had in mind.
-
The factors we have listed (innovation, economies of scale, education, capital accumulation, etc.) are not causes of growth; they are growth.
-
Order in the societies they describe is the result of a dense social network where people have an intimate understanding of each other and the threat of violence is a continuous force for preserving order because of its implications for other members of society.
-
My father had not even completed high school when he started as an office boy working for the Metropolitan Life Insurance Company, and I am not sure that my mother completed high school.
-
It was not until I got my first job, at the University of Washington in Seattle, and began playing chess with Don Gordon, a brilliant young theorist, that I learned economic theory.
-
In some respects this is intended to be a revolutionary book, but in other respects it is very traditional indeed. It is revolutionary in that we have developed a comprehensive analytical framework to examine and explain the rise of the Western world; a framework consistent with and complementary to standard neoclassical economic theory.