Quote by Douglass North
"We should be humble about our ability to design institutions, as unintended consequences are nearly always present."
"We should be humble about our ability to design institutions, as unintended consequences are nearly always present."
"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."