The Nature and Significance of Institutions
In none of my efforts at institution building did I lay a brick, dig a foundation, or erect a wall. In fact, none of my work had much to do with the physical structures that most people associate with the word “institutions,” structures like imposing courthouses, shimmering laboratories, and towering office buildings. Those things are just physical manifestations of institutions. They are not the institutions themselves or their essence that institution builders must create to succeed at their task.
Definitions
Numerous scholars have sought to capture that essence in definitions. Douglass C. North, recipient of the Nobel Prize in economics for his work on institutions, defined them as “the ...
Get The Institution Builder’s Toolbox now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
