Quote by Douglass North
"The decline of societies can be traced to the erosion of their institutional structures."
"The decline of societies can be traced to the erosion of their institutional structures."
"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."