Transaction Cost Changes in Institutional Transition from a Power Perspective——New recognition about“The Second North Paradox”

New institutional economists consider transaction cost as the cost of institution,and North points out that institutional change will reduce the transaction costs,but empirical analysis has shown that macro transaction cost is rising during the long term development,further more the divergence on transaction cost causes the debate onthe second North paradox.We consider that institution is the result of social games,so there must exist connection between transaction cost and social power structure.And the change of social power structure leads to the change of transaction cost and institutional transition.We find out the relationship among social power,transaction cost and institutional transition from macro and micro sides.We hold that the change of transaction cost should not stand for efficient institutional transition. And the social power structure analysis shows the rationality ofthe second North paradox.