Douglass North
Douglass North

Celebrity Profile

Name: Douglass North
Occupation: Intellectuals & Academics
Gender: Male
Birth Day: November 5, 1920
Death Date: November 23, 2015(2015-11-23) (aged 95)
Benzonia, Michigan, U.S.
Age: Aged 95
Birth Place: Cambridge, Massachusetts, United States, United States
Zodiac Sign: Sagittarius

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Douglass North

Douglass North was born on November 5, 1920 in Cambridge, Massachusetts, United States, United States (95 years old). Douglass North is an Intellectuals & Academics, zodiac sign: Sagittarius. Find out Douglass Northnet worth 2020, salary 2020 detail bellow.

Does Douglass North Dead or Alive?

As per our current Database, Douglass North died on November 23, 2015(2015-11-23) (aged 95)
Benzonia, Michigan, U.S..

Net Worth

Net Worth 2020

Undisclosed

Salary 2020

Not known

Biography Timeline

1920

Douglass North was born in Cambridge, Massachusetts, on November 5, 1920. He moved several times as a child due to his father's work at MetLife. The family lived in Ottawa, Lausanne, New York City, and Wallingford, Connecticut.

1942

North was educated at Ashbury College in Ottawa, Ontario and the Choate School in Wallingford, Connecticut. He was accepted at Harvard at the same time that his father became the head of MetLife on the west coast, so North opted to go to University of California, Berkeley. During his time at Berkeley, North was a member of the Chi Phi Fraternity. In 1942, he graduated with a B.A. in General Curriculum-Humanities. Although his grades amounted to slightly better than a "C" average, he managed to complete a triple major in political science, philosophy and economics. That same year, he entered the US Merchant Marine Academy, graduated a year later and went to sea for three years as a deck officer.

1944

North was married twice. His first marriage, to Lois Heister in 1944, resulted in three sons: Douglass Jr., Christopher and Malcolm. During the marriage, Heister became a notable activist and politician. The marriage ended in divorce. North remarried in 1972, to Elizabeth Case.

1951

From 1951 to 1956, North was an assistant professor of economics at the University of Washington, then from 1956 to 1960, an associate professor. In 1960 North became co-editor of the Journal of Economic History, popularizing Cliometrics (New Economic History), and from 1960 to 1983 he was professor of Economics at the University of Washington where he also served as the chair of the economics department from 1967 to 1979. In 1979 he served as the Peterkin Professor of Political Economy at Rice University, and in 1981–82 as the Pitt Professor of American History and Institutions at Cambridge University, before joining the faculty of Washington University in Saint Louis in 1983 as the Henry R. Luce Professor of Law and Liberty in the Department of Economics (where he also served as director of the Center for Political Economy from 1984 to 1990). He was the Bartlett Burnap Senior Fellow at the Hoover Institution at Stanford University.

1952

North returned to UC Berkeley to pursue a PhD in economics. He finished his studies in 1952 as he began work as an assistant professor at the University of Washington.

1991

In 1991, he became the first economic historian to win the John R. Commons Award, which was established by the International Honors Society for Economics in 1965.

In 1991 Douglas North published a paper, entitled 'Institutions,' in the Journal of Economic Perspectives. This paper summarized much of his earlier research relating to economic and institutional change. North defines institutions as "humanly devised constraints that structure political, economic and social interactions". Constraints, as North describes, are devised as formal rules (constitutions, laws, property rights) and informal restraints (sanctions, taboos, customs, traditions, codes of conduct), which usually contribute to the perpetuation of order and safety within a market or society. The degree to which they are effective is subject to varying circumstances, such as a government's limited coercive force, a lack of organized state, or the presence of strong religious precept.

1992

In a 1992 paper, North argues that neoclassical economic theory overlooks the institutions required to create efficient markets with low monitoring and transaction costs. He develops a framework for explaining how institutions change and become more efficient over time.

1997

Along with Ronald Coase and Oliver Williamson, he helped found the International Society for the New Institutional Economics (ISNIE) which held its first meeting in St. Louis in 1997. His research included property rights, transaction costs, the institutional basis of markets, and economic organization in history as well as economic development in developing countries.

2015

North died on November 23, 2015, at his summer home in Benzonia, Michigan from esophageal cancer at the age of 95.

🎂 Upcoming Birthday

Currently, Douglass North is 102 years, 3 months and 1 days old. Douglass North will celebrate 103rd birthday on a Sunday 5th of November 2023. Below we countdown to Douglass North upcoming birthday.

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