“Sometimes the world is so much sicker than the inmates of its institutions.”
Source: I Never Promised You a Rose Garden
“The difficulty in defining a field for the so-called institutional economics is the uncertainty of meaning of an institution. Sometimes an institution seems to mean a framework of laws or natural rights within which individuals act like inmates. Sometimes it seems to mean the behavior of the inmates themselves. Sometimes anything additional to or critical of the classical or hedonic economics is deemed to be institutional. Sometimes anything that is "economic behavior" is institutional. Sometimes anything that is "dynamic" instead of "static," or a "process" instead of commodities, or activity instead of feelings, or mass action instead of individual action, or management instead of equilibrium, or control instead of laissez faire, seems to be institutional economics.”
Source: "Institutional Economics," 1931, p. 648
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John R. Commons 26
United States institutional economist and labor historian 1862–1945Related quotes
John R. Commons
(1862–1945) United States institutional economist and labor historian
Source: "Institutional Economics," 1931, p. 654
Richard A. Posner
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After all control and institutions and processes are immediate things. They can all be translated into terms of human conduct...
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But the principal objects for which they are designed are social, the others are only secondary. It is, therefore, necessary that there should be a good understanding between all the members, and that nothing should occur that is likely to disturb the good feeling that ought to subsist between them.
Hopkinson v. Marquis of Exeter (1867), L. R. 5 Eq. Ca. 67.
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Vladimir Lenin
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The Three Sources and Three Constituent Parts of Marxism (March 1913)
1910s
“I sometimes wish that I were in the Labour Party. I would tear down all these institutions!”
David Lloyd George
(1863–1945) Former Prime Minister of the United Kingdom
Speaking of landlords, quoted in Frances Stevenson's diary entry (17 December 1919), A. J. P. Taylor (ed.), Lloyd George: A Diary (London: Hutchinson, 1971), p. 193
Prime Minister