What even is an institution?

https://vitalik.eth.limo/general/2022/12/30/institutions.html

Not sure I have amazing new insights, other than that this is a complicated muddle, but sometimes recognizing the muddle is the first step to stepping out of it!

Odd starting point there, polling people on mastodon. 🧐

Two key sources for me:

1. Powell and DiMaggio book esp preface https://books.google.com/books/about/The_New_Institutionalism_in_Organization.html

Douglas North, Institutions https://www.aeaweb.org/articles?id=10.1257/jep.5.1.97