Quote by Douglass North
"Without institutions that protect contracts and enforce agreements, trade cannot flourish."
"Without institutions that protect contracts and enforce agreements, trade cannot flourish."
"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."