Quote by Douglass North
"Institutional reform requires both intellectual understanding and political will to overcome entrenched interests."
"Institutional reform requires both intellectual understanding and political will to overcome entrenched interests."
"Institutions are the humanly devised constraints that shape human interaction."
"The performance of economies over time is determined by institutions and institutional change."
"Ideas have consequences, and the ideas we hold shape the institutions we create."
"Economic history is fundamentally about understanding how societies organize production and exchange."