Quote by Douglass North
"Institutional change requires not just new laws but a shift in how people think and behave."
"Institutional change requires not just new laws but a shift in how people think and behave."
"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."