The modern joint stock firm is the outcome of innumerable decisions made by individual entrepreneurs, owners and managers. For these decision makers… — Alfred D. Chandler, Jr Copy Share Image
The development of a political-economic framework to explore long-run institutional change occupied me during all of the 1980s and led to the… — Douglass North Copy Share Image
“The synergies between extractive economic and political institutions create a vicious circle, where extractive institutions, once in place, tend to persist. Similarly,… — Daron Acemoğlu Copy Share Image
