Economist

Douglass North

Douglass North

Born:

Douglass North who was an American economist and known for his economic history, born on 5 November 1920, In Cambridge, U. S.

Family Background:

He was the son of Henry North and his wife Edith Saitta. Douglass had one brother and one sister. His father was worked in the Insurance sector.

Personal Life:

In 1944, He married Lois Heister, who became a successful politician in the Washington state legislature. They had three sons. Later sometimes, The couple divorced. In 1972, He secondary married Elisabeth Case.

Education:

He received his primary school education from private school. He completed his high school education from Choate School in Wallingford, Connecticut. Then he entered in the University of California. In 1942, He completed his graduation with B.A in General Curriculum-Humanities. Later he returned to UC Berkeley and obtain the Ph.D. in economics.

Career:

After completing his education in 1951, He worked as an assistant professor at the University of Washington. He had held this position until 1956 when he had been promoted to an associate professor. He had been invited by Solomon Fabricant, who was the director of research at the National Bureau of Economic Research, for research for a year at the Bureau as a research associate. In 1960, He had accepted the position of professor of economics at the University of Washington where he would remain for more than two decades until 1983. He had also served as the chair of the economics department from 1967-79. He had also given his work as the Peterkin Professor of Political Economy at Rice University in 1979 and as the Pitt Professor of American History and Institutions at Cambridge University in 1981-82. During his career, He had also served as an advisor to governments around the world including China, Latin America and elsewhere. He had been highly respected as an adviser in Eastern Europe and newly independent former Soviet states in the 1990s.

He suffered from esophageal cancer. On 23 November 2015 at the age of 95, He died.

Unknown Facts:

  • He wrote three autobiographies.

Master Stroke:

  • He was an author or co-author of some important publications such as ‘Structure and Change in economic history’, Institutions, Institutional Change and Economic Performance’, ’empirical studies in institutional change’, and ‘Understanding the process of economic change’.

Awards and achievements:

  • In 1972, He received the Guggenheim Fellowship for Humanities award.
  • In 1993, He received the Nobel Memorial Prize in Economic Sciences
  • award.

What can we learn from him??

Like Douglass North, Concentrate on your goal. do hard work to fulfill it.

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