Institutional change, recognizing the different types and understanding the mechanisms that cause it, are the topics discussed. The arguments are then applied to globalization, correcting some serious misunderstandings. The author also develops a new theory of institutional change that advances...

This book contributes to the current rapprochement between economics and sociology. It examines the fact that individuals use rules and interdependencies to forward their own interests, while living in social environments where everyone does the same. The authors argue that to construct durable...

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...