Quote by Douglass North
"The institutions that work in one place may fail in another due to different historical contexts."
"The institutions that work in one place may fail in another due to different historical contexts."
"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."