Institutions do not just spring to life the way Athena sprang from the head of Zeus. They are the product of the work of institution builders, individuals who bring certain indispensable skills and assets to the process of institution building. One may define an institution builder as a person who seeks in some way to change the existing institutional framework out of a belief that such change will advance that person’s interests in some way. In his scholarship on institutions, Douglass C. North does not use the term “institution builder” but instead states that “… [t]he agent of change is the individual entrepreneur responding to the incentives embodied in the institutional framework.”* Although the individual ...
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