According to Nobel Laureate Edmund Phelps (2013, p. 123), Mises’s critique of economic calculation under socialism renders him the originator of the economic analysis of property rights. This paper also suggests that implicit to Mises’s impossibility theorem was also the origins of the...

The purpose of this chapter is an attempt to reconstruct the evolution of North's approach to understanding economic history. Underlying this evolution has been an increasing recognition of the role that transaction costs play in explaining the economic performance of different societies through...