Tagged: nobel prize in economics

Douglass North by Herb Weitman - WUSTL Photos

Douglass C. North: father of new institutionalism

  Douglass C. North was born in 1920 in Cambridge, Massachusetts. He attended college at the University of California in Berkeley and majored in political science, economics and philosophy. Upon graduation, he decided to pursue his studies in law school, but it coincided with World War II. As he later wrote in his autobiography, “because of the strong feeling that I did not want to kill anybody, I joined the Merchant Marine when I graduated from Berkeley”. The three years he spent on the sea provided him with a great opportunity to read, and these readings convinced him to become...