DEFINITION of 'Douglass C. North'

An American economist and winner of the 1993 Nobel Memorial Prize in Economics, along with Robert William Fogel, for his application of economic theory and quantitative methods to economic history. His research focuses on how institutions affect economic development.

BREAKING DOWN 'Douglass C. North'

Born in 1920 in Massachusetts, North earned his Ph.D. from the University of California at Berkeley. Douglass North's positions have included work as a senior fellow with Stanford University's free-market think tank, the Hoover Institution. Prior to becoming an economist, he served as a navigator in the Merchant Marines. North has taught economics and history at Washington University in St. Louis and the University of Washington at Seattle.

RELATED TERMS
  1. A. Michael Spence

    An American economist who has won the Nobel Memorial Prize in ...
  2. Robert E. Lucas Jr.

    Robert E. Lucas Jr. is an American economist who won the 1995 ...
  3. Richard Stone

    Richard Stone is a British economist who won the 1984 Nobel Memorial ...
  4. Oliver E. Williamson

    Oliver E. Williamson is an American economist who teaches primarily ...
  5. William F. Sharpe

    William F. Sharpe is an American economist who won the 1990 Nobel ...
  6. Sir Arthur Lewis

    Sir Arthur Lewis was an economist who made significant contributions ...
Related Articles
  1. Investing

    Nobel Winners Are Economic Prizes

    Before you try to profit from their theories, you should learn about the creators themselves.
  2. Insights

    Where Does the Nobel Prize Money Come From?

    The cash award associated with the Nobel Prize has changed in value considerably since the first awards in 1901. But where does it come from?
  3. Insights

    Harvard and MIT Professors Win Nobel Memorial Prize in Economics

    British economist Oliver Hart, 68, and Finnish economist Bengt Holmström, 67, were honored with the award today for their contributions to contract theory.
  4. Insights

    The History of Economic Thought

    Economics is a vital part of every day life. Discover the major players who shaped its development.
  5. Personal Finance

    A Day In The Life Of An Economist

    We've interviewed three economists with very different job descriptions to give you an idea of the many possibilities this career choice offers.
  6. Investing

    The difference between finance and economics

    Learn the differences between these closely related disciplines and how they inform and influence each other.
  7. Insights

    Pay Attention to These Economic Indicators

    Vanguard's Chief Economist on the three economic forces you should watch for.
  8. Personal Finance

    Quantitative Analyst: Job Description & Average Salary

    Learn the different job duties of a quantitative analyst and how much money an analyst makes; understand the skills needed to be successful at this career.
  9. Tech

    Top Financial Education Sources for Engineers

    A breakdown of the top financial education sources for engineers.
RELATED FAQS
  1. Economists' assuptions in their economic model

    Economists often first build assumption before they apply them into their models. Find out why economists use unrealistic ... Read Answer >>
  2. What impact does economics have on government policy?

    Learn about the impact of economic conditions on government policy and understand how governments engineer economic conditions ... Read Answer >>
  3. What are some of the ways economic growth can be achieved?

    Discover some of the different ideas economists promote to achieve economic growth and how there is little agreement about ... Read Answer >>
  4. How does money supply affect inflation?

    Learn about two competing economic theories of the role of the money supply and whether money supply causes inflation in ... Read Answer >>
  5. What is the difference between accounting and economics?

    Discover the difference between accounting and economics by comparing and contrasting the financial discipline of accounting ... Read Answer >>
  6. Are perfect competition models in economics useful?

    Take a look at some of the arguments made by the proponents and critics of the theory of perfect competition in contemporary ... Read Answer >>
Hot Definitions
  1. Portfolio

    A portfolio is a grouping of financial assets such as stocks, bonds and cash equivalents, also their mutual, exchange-traded ...
  2. Gross Profit

    Gross profit is the profit a company makes after deducting the costs of making and selling its products, or the costs of ...
  3. Diversification

    Diversification is the strategy of investing in a variety of securities in order to lower the risk involved with putting ...
  4. Intrinsic Value

    Intrinsic value is the perceived or calculated value of a company, including tangible and intangible factors, and may differ ...
  5. Current Assets

    Current assets is a balance sheet item that represents the value of all assets that can reasonably expected to be converted ...
  6. Volatility

    Volatility measures how much the price of a security, derivative, or index fluctuates.
Trading Center