Showing papers by "Douglass C. North published in 1986"
554 citations
TL;DR: In this paper, the authors explore Elster's analysis of Marx's theory of historical evolution and demonstrate how the modern literature on transaction costs can provide a more precise and useful framework within which to explore the ongoing tension between productive forces and relations of production.
Abstract: This essay explores Elster's analysis of Marx's theory of historical evolution. The meaning of the terras ‘productive forces’ and the ‘relations of production’ are examined both as specified by Marx and interpreted by Elster. The essay then goes on to demonstrate how the modern literature on transaction costs can provide a more precise and useful framework within which to explore the ongoing tension between productive forces and relations of production.
28 citations
Posted Content•
01 Jan 1986
1 citations