Institutions are the humanly devised constraints that structure political, economic, and social interaction. They consist of both informal constraints (sanctions, taboos, customs, traditions, and codes of conduct), and formal rules (constitutions, laws, property rights). Throughout history, institutions have been devised by human beings to create order and reduce uncertainty in exchange.
Douglass NorthRelated topics
conduct formal history human interaction order property laws customs rulesRelated quotes
We are now in a period of social transition, a period characterized, that is, by an unusually rapid rate of change of the most important economic, social, political, and cultural institutions of society. This transition is from the type of society which we have called capitalist or bourgeois to a to a type of society which we shall call managerial.
James Burnham
Capitalism as a social order and as a creed is the expression of the belief in economic progress as leading toward the freedom and equality of the individual in a free and open society. Marxism expects this society to result from the abolition of private profit. Capitalism expects the free and equal society to result from the enthronement of private profit as supreme ruler of social behavior...
Peter Drucker
The bourgeois public sphere may be conceived above all as the sphere of private people come together as a public; they soon claimed the public sphere regulated from above against the public authorities themselves, to engage them in a debate over the general rules governing relations in the basically privatized but publicly relevant sphere of commodity exchange and social labor.
Jürgen Habermas
Tis impossible to judge with much Præcision of the true Motives and Qualities of human Actions, or of the Propriety of Rules contrived to govern them, without considering with like Attention, all the Passions, Appetites, Affections in Nature from which they flow. An intimate Knowledge therefore of the intellectual and moral World is the sole foundation on which a stable structure of Knowledge can be erected.
John Adams
Our whole life can go on in observation of the laws of nature, if we gain dominion over our desires from the beginning and if we do not kill, by various means of a perverse art, the human offspring, born according to the designs of divine providence; for these women who, in order to hide their immorality, use abortive drugs which expel the child completely dead, abort at the same time their own human feelings.
Clement of Alexandria
