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Communities and Markets in Economic Development$
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Masahiko Aoki and Yujiro Hayami

Print publication date: 2001

Print ISBN-13: 9780199241019

Published to Oxford Scholarship Online: August 2004

DOI: 10.1093/0199241015.001.0001

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(p.403) Comments
Communities and Markets in Economic Development

Douglass C. North (Contributor Webpage)

Oxford University Press

This section presents Douglass North’s comments on the drafts of the chapters discussed during the final conference leading to the current book. He discusses the fundamentals of human interaction, and argues that a useful common denominator of human interaction is a transaction cost approach. Human beings are concerned with costs of measurement, enforcement, and different kinds of exchange conditions. Thus, they follow very different patterns, which have been elucidated in a number of papers in the conference. He makes special mention of several papers, namely those of Yujiro Hayami on vegetable marketing in Indonesia, Akihiki Ohno on hand-weaving in Laos, Jonathan Morduch on China, and Jean-Phillipe Platteau on cooperative.

Keywords:   human interaction, transaction costs, papers, conference

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