You are here: Home » PTI Stories » National » News
Business Standard

Douglass North, co-recipient of 1993 Nobel Prize, dies

AP  |  St Louis 

Douglass C North, an American economist who was a co-recipient of the 1993 Nobel Prize in economic sciences, has died.

He was 95.

Speaking on behalf of North's family, Washington University in St Louis said he died Monday at his summer home in Benzonia, Michigan. A cause of death was not released.

North and Robert Fogel of the University of Chicago won the Nobel Prize for research that applied economic theory and quantitative methods to explain economic and institutional change.

The university said North spent much of his 60-year academic career pondering a simple question: Why do some countries become rich and others remain poor?

Chancellor Mark S Wrighton called North, "the very best of what we all aspire to be a thoughtful man, a kind colleague, a generous university citizen."


North was born in Cambridge, Massachusetts, and earned undergraduate and doctorate degrees at the University of California, Berkeley.

He spent 33 years at the University of Washington in Seattle before coming to Washington University in St Louis in 1983. North also authored or co-authored 10 books and remained active in teaching and research until his health began to fail in recent years.

Survivors include his wife of 43 years, Elisabeth, along with three sons and four grandchildren. A memorial service will be scheduled later, Washington University officials said.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 25 2015. 22:28 IST
RECOMMENDED FOR YOU