Quote by Douglass North
"We often mistake institutional longevity for institutional success, forgetting that some institutions persist precisely because they benefit the powerful."
"We often mistake institutional longevity for institutional success, forgetting that some institutions persist precisely because they benefit the powerful."
"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."