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¹⁸ The work of both laureates ultimately rests upon that familiar figure of neo-classical economics, rational utility-maximizing man. But their labours have followed different paths. Fogel has deployed numerous mathematical calculations to elucidate such specific issues as railroads and slavery. North has widened out his work from the examination of productivity in eighteenth-century shipping to propounding theoretical explanations for the emergence over very long periods of history of such vast economic institutions as free markets and private property.

¹⁹ Donald, McCloskey, Enterprise and trade in Victorian Britain (London, 1981), pp. 25, 29, 31.Google Scholar

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²⁹ Trevelyan, op. cit. pp. 400–1.

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³¹ Cipolla, loc. cit. p. 74.

³² Cairncross, loc. cit. p. 181.

³³ Notably Strategy and structure (Cambridge, Mass., 1967)Google Scholar, The visible hand (Cambridge, Mass., 1977)Google Scholar and Scale and scope (Cambridge, Mass., 1990).Google Scholar

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