Quote by Douglass North
"The institutions that govern trade and commerce have evolved to solve the fundamental problem of enabling strangers to cooperate."
"The institutions that govern trade and commerce have evolved to solve the fundamental problem of enabling strangers to cooperate."
"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."