Are We Forgetting Something? Remarks on the Connections Between Douglass North’s Contributions and Original Institutional Economics

Manuel Luz and Ramon Fernandez

Journal of Economic Issues, 2018, vol. 52, issue 2, 589-599

Abstract: Douglass North’s latest works have become central to the current discussion regarding the differences and similarities between new institutional economics (NIE) and original institutional economics (OIE). We seek to contribute to this debate by offering a specific analytical perspective to evaluating North’s contributions. After defining a set of philosophical and methodological principles that specifies OIE, we endeavor to verify if and how North’s work relates to these foundations. We believe that this methodological perspective brings to light a fundamental issue not stressed by earlier analyses: the profound difference between the institutionalisms regarding the role of market order as a mechanism of human sociability.

Date: 2018
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DOI: 10.1080/00213624.2018.1469939

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