Douglass North, a towering figure in economics, revolutionized the study of institutions and their impact on economic development. His groundbreaking work earned him a Nobel Prize, underscoring the importance of understanding history and institutions in shaping prosperity. North's legacy serves as a guiding light for scholars seeking to unravel the complexities of economic growth.
"My early work and publications centered around expanding on the analysis of life insurance in my dissertation and its relationship to investment banking."
"What the war did was give me the opportunity of three years of continuous reading, and it was in the course of reading that I became convinced that I should become an economist."
"My record at the University of California as an undergraduate was mediocre to say the best."
"I would be remiss if I left the impression that my life has been totally preoccupied with scholarly research."
"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."
"While I was there I became deeply interested in photography, and indeed the most noteworthy event in my early life was winning first, third, fourth and seventh prizes in an international competition for college and high school students."
"I continue to be a photographer; I have enjoyed fishing and hunting with a close friend; and have owned two ranches, first in northern California and then in the state of Washington."