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Douglass North’s Remaking of Economic History: A Critical Appraisal

Department of Economics, University of Crete, University Campus, 14100 Rethymno, Crete, Greece, milonaki{at}otenet.gr

Ben Fine

Economics, SOAS, University of London, Thornhaugh St., Russell Sq., London WC1H OXG, UK, bf{at}soas.ac.uk

This article aims to begin to fill a gap in the literature by offering a comprehensive critique of Douglass North’s work with emphasis on his historical studies. After a brief overview of his theoretical contributions, a closer scrutiny of his theory in its application to history is offered. North’s histories are found to be problematic. To resolve the difficulties involved requires a break with his methodology and the supplemented neoclassical economics from which it is drawn.

Key Words: economic history • institutions • transaction costs • property rights • structure • agency • methodological individualism • Malthusianism

Review of Radical Political Economics, Vol. 39, No. 1, 27-57 (2007)
DOI: 10.1177/0486613406296896


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