Where Have We Been and Where are We Going?

19 Pages Posted: 1 Feb 1997

See all articles by Douglass C. North

Douglass C. North

Washington University in St. Louis - Department of Economics

Date Written: Undated

Abstract

Improving our understanding of the nature of economic change entails that we draw on the only laboratory that we have--the past. But "understanding" the past entails imposing order on the myriad facts that have survived to explain what has happened--that is theory. To begin we need to assess what we have learned from the past and then assess the usefulness of the tools at hand--i.e. the rationality assumption and growth theory we employ in economics? We will then go on to explore in subsequent sections some recent development that offer the promise of improving our understanding of the past and of where we are going.

JEL Classification: N01

Suggested Citation

North, Douglass C., Where Have We Been and Where are We Going? (Undated). Available at SSRN: https://ssrn.com/abstract=1494 or http://dx.doi.org/10.2139/ssrn.1494

Douglass C. North (Contact Author)

Washington University in St. Louis - Department of Economics ( email )

One Brookings Drive
St. Louis, MO 63130
United States
314-935-5809 (Phone)
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