THE FIRST GERMAN edition of this book appeared in 1940. Since then the book has gone through five more editions and has been translated into Spanish and Italian

A systemic account of how institutions shape economic development Institutions matter for economic development. Yet despite this accepted wisdom, new institutio

This well-written book is the first to deal with entrepreneurship in all its aspects. It considers the economic, psychological, political, legal and cultural di

In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revo

DYNAMIC ECONOMICS with increasing returns is extended to cope with economic growth, the business cycles and the irregular swings in the long-term development as