Douglass North's New Book

Princeton University Press, which just turned 100 years old, has published a new volume by the noted American economist Douglass North: Understanding the Process of Economic Change. (You can check out the first chapter in PDF format on PUP.)

If you're interested in transaction cost economics and the economics of property rights and technology, I highly recommend North's work, including his classic: Structure and Change in Economic History. Among other matters in this classic, North discusses the role of government as monopoly holder of violence in society.

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Comments:

We briefly discussed the idea of the government as the monopoly holder of violence in society before. I read about this idea in R.Nozick's Anarchy, State and Utopia (which predates North's Structure and Change, by the way). Since I enjoyed Nozick's book very much, it sounds like I should read North's one now, especially to get a somewhat different perspective on these fascinating ideas (Nozick is many things, but an economist he is not).

Posted by Roberto Chinnici on August 12, 2005 at 07:51 AM PDT #

Thank you for the mention of Nozick's book. I've never read it but have heard about it. Yes, North does take a more economic view.

Posted by M. Mortazavi.com on August 12, 2005 at 08:09 AM PDT #

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