A Quote by Douglass North

The development of a political-economic framework to explore long-run institutional change occupied me during all of the 1980s and led to the publication of Institutions, Institutional Change and Economic Performance in 1990.
And judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.
It's just silly to look at the incredibly steep decline in the mainline and the clear institutional weakening of Catholicism in the 1960s and 70s and pretend that something really big didn't change then. It did change. There really was a significant institutional decline.
A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.
At the most basic level, if men have institutional power, they have tremendous influence to change those institutions.
Change or be changed, right? And what we mean by that is that climate change, if we don't change course, if we don't change our political and economic system, is going to change everything about our physical world.
I see a violation of human rights not in the mere fact that people don't have enough to eat and that they are very vulnerable, but I see it in the fact that the economic institutional order of the world is associated with this very persistent poverty and that different institutional arrangements at the supranational level could stop and even reverse the slide towards ever-greater income disparities.
Many still believe that conducting political and economic reforms at the same time is not an Asian way. But this is a fairy-tale. We broke that old stereotype by reforming our political, economic and social systems concurrently since 1990.
I thought at the time that I wanted to go into institutional sales, selling stocks and bonds to institutions. In those days, which was the 1960s, the institutional salesman was making about $100,000 a year. I thought that was just an enormous amount of money.
But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.
What I've always said is that I'm opposed to institutional racism, and I would've, had I've been alive at the time, I think, had the courage to march with Martin Luther King to overturn institutional racism, and I see no place in our society for institutional racism.
You need in the long run for stability, for economic growth, for jobs, as well as for financial stability, global economic institutions that make sure that growth to be sustained has to be shared, and are built on the principle that the prosperity of this world is indivisible.
Economic activity, especially the activity of a market economy, cannot be conducted in an institutional, juridical or political vacuum. On the contrary, it presupposes sure guarantees of individual freedom and private property, as well as a stable currency and efficient public services.
I think you'd change Alabama fundamentally if in six years someone said, 'If you want the best education in America, you've got to live in Alabama.' you'd change economic development, change the image of this state, you'd offer these kids an opportunity they otherwise would never have had.
What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure of production.
Management is the gate through which social and economic and political change, indeed change in every direction, is diffused though society.
Greece has great strengths, but much of this potential has been wasted. That's because of a wider political system, but also because of a lack of an institutional framework.
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