"Anyone with an interest in world poverty can benefit from this carefully crafted and closely argued book. It is a pleasure and a delight to read." --Paul Ormerod, Times Higher Education
"[North] sets forth a radical reconceptualization of the task and methods of the social sciences in general and economics in particular, providing a glimpse at an economics that refuses to 'assume a can opener.'" --Will Wilkinson, Cato Journal
"[This book] provides a sweeping view of the relationships among human belief systems, social institutions, and what [North] calls 'the adaptive efficiency' of societies in coping with changes in demographics, technology, and other factors." --Richard N. Cooper, Foreign Affairs
"A courageous attempt to enlarge the arsenal of theoretical tools available for economists." --Diego Rios, Journal of Evolutionary Economics
In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories.
North argues that economic change depends largely on "adaptive efficiency," a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances.
Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries.
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Descripción Hardcover. Estado de conservación: New. BRAND NEW US edition / [Hardcover] / FREE UPGRADE to FedEx, UPS or Priority Mail / receive your book within 1-4 business days! / [clean wrapped, well protected] [Authentic edition exactly the same as the Official Listing] [ships within 1 business day] / Free tracking number / Genuine US Bookstore! Get your book in perfect condition! We also ship international via FedEx, UPS, or USPS Express!. Nº de ref. de la librería 409720161027011755
Descripción Princeton University Press, 2005. Estado de conservación: New. Brand New, Unread Copy in Perfect Condition. A+ Customer Service! Summary: This deeply exciting book culminates North's research agenda, and points the way to solving the most valuable but intractable problem in economics today: how institutions evolve. When I first read it I immediately saw implications for my own research, and began rethinking several fundamental ideas about how economies and their governments interrelate. What you learn from North changes how you think, and changing how people think is the best measure of intellectual influence. Nº de ref. de la librería ABE_book_new_0691118051
Descripción Princeton University Press, 2005. Hardcover. Estado de conservación: New. book. Nº de ref. de la librería 0691118051
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Descripción U.S.A.: Princeton University Press, 2005. Hardcover. Estado de conservación: New. Nº de ref. de la librería ABE-18799830366
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Descripción Princeton University Press, 2005. Hardcover. Estado de conservación: New. Nº de ref. de la librería P110691118051
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