Quote by Douglass North
"Institutional analysis teaches us that context is king, and abstract principles divorced from institutional reality lead us astray."
"Institutional analysis teaches us that context is king, and abstract principles divorced from institutional reality lead us astray."
"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."