“Social, political and economic institutions have become larger, considerably more complex and resourceful, and prima facie more important to collective life. Many of the major actors in modern economic and political systems are formal organizations, and the institutions of law and bureaucracy occupy a dominant role in contemporary life.”

Source: Rediscovering institutions, 1989, p. 1-2

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James G. March10

American sociologist 1928–2018

Johan Olsen (1939) Norwegian political scientist

James G. March and Johan Olsen, (1989) Rediscovering Institutions: The Organizational Basis of Politics. New York: Free Press. p. 1-2

“The importance to economics of the study of institutions is no longer a controversial proposition, thanks in part to the scholarly literature generated by the new institutional economics movement. Institutions are more than organizations – property is an institution, but not an organization – but organizations are an important form of institution and will be the focus of my paper, as it is, to a considerable extent, of the new institutional economics.”

Richard A. Posner (1939) United States federal judge

"From the new institutional economics to organization economics: with applications to corporate governance, government agencies, and legal institutions" (2010).

“Organizations compete not just for resources and customers, but for political power and institutional legitimacy, for social as well as economic fitness.”

Paul DiMaggio (1951) American sociologist

Source: "The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields," 1983, p. 150.

“Political institutions are a superstructure on the economic foundation.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

The Three Sources and Three Constituent Parts of Marxism (March 1913)
1910s

“Institutions are the humanly devised constraints that structure political, economic, and social interactions. They consist of both informal constraints (sanctions, taboos, customs, tradition, and code of conduct) and formal rules”

Douglass C. North (1920–2015) American Economist

constitutions, laws, property rights
Source: Institutions (1990), p. 97; As cited in: Oliver E. Williamson (1996) The Mechanisms of Governance. p. 4

“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 C. North (1920–2015) American Economist

Douglass North. (1991). "Institutions." Journal of Economic Perspectives, 5(1): 97-112; Abstract

“Anarchism is a definite intellectual current in the life of our times, whose adherents advocate the abolition of economic monopolies and of all political and social coercive institutions within society.”

Rudolf Rocker book Anarcho-Syndicalism

Source: Anarcho-Syndicalism (1938), Ch. 1 "Anarchism: Its Aims and Purposes"
Context: Anarchism is a definite intellectual current in the life of our times, whose adherents advocate the abolition of economic monopolies and of all political and social coercive institutions within society. In place of the present capitalistic economic order Anarchists would have a free association of all productive forces based upon co-operative labour, which would have as its sole purpose the satisfying of the necessary requirements of every member of society, and would no longer have in view the special interest of privileged minorities within the social union.
In place of the present state organisation with their lifeless machinery of political and bureaucratic institutions Anarchists desire a federation of free communities which shall be bound to one another by their common economic and social interest and shall arrange their affairs by mutual agreement and free contract.

“In the United States… a handful of corporations centralize decisions and responsibilities that are relevant for military and political as well as economic developments of global significance. For nowadays the military and the political cannot be separated from economic considerations of power. We now live not in an economic order or a political order, but in a political economy that is closely linked with military institutions and decisions. This is obvious in the repeated "oil crisis" in the Middle East, or in the relevance of Southeast Asia and African resources for the Western powers…”

C. Wright Mills (1916–1962) American sociologist

Character & Social Structure (1954).
1950s

“The rise of the modern corporation has brought a concentration of economic power which can compete on equal terms with the modern state - economic power versus political power, each strong in its own field. The state seeks in some aspects to regulate the corporation, while the corporation, steadily becoming more powerful, makes every effort to avoid such regulation… The future may see the economic organism, now typified by the corporation, not only on an equal plane with the state, but possibly even superseding it as the dominant form of social organization. The law of corporations, accordingly, might well be considered as a potential constitutional law for the new economic state, while business practice is increasingly assuming the aspect of economic statesmanship.”

Adolf A. Berle (1895–1971) American diplomat

Source: The Modern Corporation and Private Property. 1932/1967, p. 357 (1967, p. 313)

“Historical, political economic systems theory. The Marxian approach to system theorizing clearly points us to sociologically important phenomena: the material conditions of social life, stratification and social class, conflict, the reproduction as well as transformation of capitalist systems, the conditions that affect group mobilization and political power, and the ways ideas functions as ideologies.”

Tom R. Burns (1937) American sociologist

Source: Systems theories (2006), p. 2.

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James G. March10

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