Quote by Douglass North
"The most important institutional innovations are often invisible because they solve problems so thoroughly we forget the problems existed."
"The most important institutional innovations are often invisible because they solve problems so thoroughly we forget the problems existed."
"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."