![]() ![]() Yet, institutions vary widely in their consequences for economic performance some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. Institutions exist, he argues, due to the uncertainties involved in human interaction they are the constraints devised to structure that interaction. ![]() ![]() Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Presentation copy, inscribed by the author on the front free endpaper, "For John Douglass C. First edition of this groundbreaking work by the Nobel Prize-winning author. ![]()
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