Professional Documents
Culture Documents
While
at
the
University
of
Washington, in Seattle, where he
taught for 33 years, Professor North
helped found a branch of inquiry
called cliometrics, named for the
muse of history, Clio, after he and
others had concluded that traditional
market-oriented economics faltered in
measuring some aspects of economic
performance quantitatively.
Professor North contended that
traditional economics did not fully
recognize that markets are embedded