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The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

This piece is a republished autobiography of Alfred D. Chandler, Jr.

Chandler reflects on his life and career as a management historian.

Chandler reflects on his life and career, in particular how he came to write Strategy and Structure and its impact on him as a historian. He also discusses his life at Harvard Business School, the editing of the Roosevelt letters, and the writing of The Visible Hand.

This is excellent background material for the other papers in the issue, as well as a valuable personal insight into Chandler's own thinking.

It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario misplacement may thus arise. The root cause lies in the lack of reflection about the current relationship between economic thoughts and realities. The paper aims to discuss these issues.

Correctly understanding economic thoughts associated with the brand of “that era” and effectively deducing its characteristics is of great significance to finding new features of this era and constructing new ideas with the characteristics of “this era.”

This motif is exactly the keynote on which to base the study of economic history and economic thought.

In a period of major historical turning points, the economic realities on which the economic thinking about that era (the era of economists) relied was undergoing major changes, and re-emphasizing the ancient topic of the relationship between economic thoughts and economic realities became particularly urgent.

Expanding the research on traditional history of economic ideology into the research on the history of economics composed of three elements – history of ideology, history of policies and events – is a new idea for researching the history of socialist political economy with Chinese characteristics. The start of the history of socialist political economy with Chinese characteristics is consistent with that of the Sinicization of Marxist political economy and can be dated from at least 1917.

The key point of the research on the history of ideologies of the socialist political economy with Chinese characteristics is to treat the relationship between theory and people properly, i.e. we should not neglect the effect brought out by the economists on theory construction while we attach importance to the theoretical contribution of the leaders and leading group of the Communist Party of China (CPC).

For the research on the history of economic policies of socialist political economy with Chinese characteristics, on the one hand, we should clarify the relationship among ideologies, strategies and policies; on the other hand, we should not evade the summarization of lessons from history.

Besides presenting the development route of socialist political economy with Chinese characteristics under competition, the research on the events in the history of socialist political economy with Chinese characteristics should also help develop the socialist political economy with Chinese characteristics.

This chapter provides a presentation about Chapter 1 of The Balance of the National Economy, 1923–24, edited by Pavel Illich Popov. The Balance was issued in June 1926 by the Central Statistical Administration (CSU or TsSU) of the USSR, which Popov had headed from July 1918 to January 1926. In the first part of our chapter, we show how Popov’s work on the balance of the national economy was rooted in the specific scientific and political culture of zemstvo statisticians inherited from the Tsar. Statistical inquiry was considered an objective scientific process based on international standards. Furthermore, like zemstvo statisticians, CSU statisticians developed great autonomous political power. The balance of the national economy was built according to these principles, which met harsh criticism from revolutionaries and Bolsheviks. In the second part, we analyze the contents of Popov’s Chapter 1, especially the theoretical foundations of the balance and its connection with Soviet planning. In the third part, we discuss the balance’s significance in the years 1926–1929, years which ended the NEP and launched the first Five-Year Plan, so as to understand how CSU’s balance didn’t become a standard Soviet statistical instrument and was discarded as a “bourgeois” device.

The US fertility transition in the nineteenth century is unusual. Not only did it start from a very high fertility level and very early in the nation’s development, but it also took place long before the nation’s mortality transition, industrialization, and urbanization. This paper assembles new county-level, household-level, and individual-level data, including new complete-count IPUMS microdata databases of the 1830–1880 censuses, to evaluate different theories for the nineteenth-century American fertility transition. We construct cross-sectional models of net fertility for currently-married white couples in census years 1830–1880 and test the results with a subset of couples linked between the 1850–1860, 1860–1870, and 1870–1880 censuses. We find evidence of marital fertility control consistent with hypotheses as early as 1830. The results indicate support for several different but complementary theories of the early US fertility decline, including the land availability, conventional structuralist, ideational, child demand/quality-quantity tradeoff, and life cycle savings theories.

The primary aim of the article is to create a systemic innovation theory.

In discussing the above, the article will draw on institutional theory, Miller's theory of living systems and systemic thinking. North's “action theory” and Asplund's “motivation theory” are also used to explain aspects of institutional innovations.

A systemic innovation theory, based on 14 propositions.

Further research should investigate the connection between innovation and economic crises.

Organizations, countries or regions, such as the EU, must make institutional changes that promote economic changes.

First, the article provides a new understanding of processes which foster innovation. Second, it attempts to provide a brief elaboration of Williamson's transaction cost theory. Third, it provides a new classification of service innovation, making it possible to make an analytical distinction between tangible and intangible service innovations. This distinction makes it possible to integrate service innovation as a natural element in all organizations. Fourth, the article provides a conceptual framework (“coin the frame”) around what the author has termed Asplund's “motivation theory” and North's “action theory”.

What do we mean by the term ‘megatrend’? A megatrend is a prominent feature of global politico‐economic change brought about by or against the recent thrust of capitalist globalization. A megatrend is also a pattern of thinking and action that is entrenched in a certain perception of historical change and capital‐worker ownership relationships. A megatrend is thus seen as a pattern of change that will profoundly impress the future of mankind in its relationship with others and with the full gamut of the ecological domain including markets and institutions (Heilbroner & Milberg, 1996). In this paper, the study of megatrends will also encompass the hidden forces that will powerfully influence, profoundly change and guide that momentum of change to an objective globalization in the future, even as the growthmanship agenda of global capitalism breathes its last in a post‐modern age.

One of the most significant events that took place during the period under review was the recent symposium on economics bibliography held in July 1975 under the auspices of the International Economics Association. It met at the famous Institut fur Weltwirtschaft, University of Kiel, West Germany. The theme of the symposium was the “Organization and Retrieval of Economic Knowledge.” The papers presented there covered recent trends in data and bibliographic organization, the emerging library characteristics of many specific economic subfields, the emerging solutions to the library cost problem and the boundaries of methodologies of economics. At its conclusion the Symposium issued a statement identifying some concerns about the future of economics libraries and data retrieval. Pending the forthcoming publication of the entire transcript, interested readers may find a summary of the symposium in the Journal of Economic Literature (December 1975: 1320–1321). While it is not entirely appropriate for this survey, I would be remiss if I did not mention another significant occasion: the bicentennial of the publication of the great Adam Smith's Wealth of Nations in honor of which the Clardendon Press has issued a special reprint.

Hazel Kyrk, one of the first women economists at the Economic Department of the University of Chicago and author of A Theory of Consumption (1923), conducted groundbreaking research for the Bureau of Home Economics of the US Department of Agriculture and the Bureau of Labor Statistics. Kyrk made a considerable contribution to the development of standards for a “decent living,” the Consumer Price Index, and the conceptualization of what would later turn into the definition of the poverty line. This chapter evaluates Kyrk’s use of eugenic notions of gender and race that were widely used in Kyrk’s day. This chapter shows that eugenic reasoning impacts Kyrk’s theoretical work only superficially but does structure her research on consumption standards through her focus on the white middle-class family as the unit of analysis for consumer behavior. This chapter also makes clear that the American Institutionalist approach to consumer behavior, rather than marginalized and side-tracked due to a lack of theoretical progress, was relegated to the margins of economics science together with the research of women economists into Home Economics departments and policy research at government institutions.