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North’s NIEH in Historical Overview

In: The New Institutionalist Economic History of Douglass C. North

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  • Matthijs Krul

    (Max Planck Institute for Social Anthropology)

Abstract

Krul gives a systematic overview of Douglass North’s New Institutionalist Economic History. He describes how North turned from early Marxist leanings to neoclassical methods in economic history, only to again abandon his previous thought and adopt the approach of New Institutionalist Economics. Krul then outlines the stages of the development of North’s theory in chronological order, emphasizing how each stage emerged to compensate for theoretical gaps in the previous one. The guiding thread is North’s early confrontation with the ideas of Karl Polanyi. As Krul shows, it was the research agenda North developed to refute Polanyi that drove all his subsequent thought. The chapter provides a clear summary of the core concepts of North’s approach and the main publications from which they derive.

Suggested Citation

  • Matthijs Krul, 2018. "North’s NIEH in Historical Overview," Palgrave Studies in the History of Economic Thought, in: The New Institutionalist Economic History of Douglass C. North, chapter 2, pages 31-68, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-319-94084-7_2
    DOI: 10.1007/978-3-319-94084-7_2
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