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little more difficult to fund projects or hire truly qualified people.

Art Kleiner • The Fifth Discipline Fieldbook: Strategies for Building a Learning Organization

Congratulations to @DAcemogluMIT, @baselinescene & James Robinson on their @NobelPrize in Economic Sciences. While their work on institutions is important, it's crucial to remember that development is complex.

As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western... See more

Mariana Mazzucato • Tweet

subjects all agents in the city to a cost-benefit logic where positive-sum gains between advantaged and disadvantaged populations become the norm.

Luis M. A. Bettencourt • Introduction to Urban Science: Evidence and Theory of Cities as Complex Systems

The crisis reveals that the old underlying social structure and way of thinking, the old way of institutionalizing and enacting collective social forms, are dying.

C Otto Scharmer, Peter Senge (Foreword) • Theory U

Many policy prescriptions are themselves no more than metaphors. Both the centralizers and the privatizers frequently advocate oversimplified, idealized institutions - paradoxically, almost "institution-free" institutions. An assertion that central regulation is necessary tells us nothing about the way a central agency should be constituted, what a... See more

Elinor Ostrom • Governing the Commons: The Evolution of Institutions for Collective Action (Political Economy of Institutions and Decisions)

those where everyone (or almost everyone) agrees that the paramount values should be, and generally speaking are, distributed equally.

David Graeber • The Dawn of Everything: A New History of Humanity

When we do, we assume the politicians are clients in a patron–client relationship, and we assume their obligations will cloud their impartial judgment.

Jessica C. Flack • Worlds Hidden in Plain Sight: The Evolving Idea of Complexity at the Santa Fe Institute, 1984–2019 (Compass)

Among the most powerful institutions for supporting good incentives are property rights, political stability, honest government, a dependable legal system, and competitive and open markets.

Alex Taborrok • Modern Principles of Economics

It is likely instructive at this point to be clearer about how exactly Ostrom defines a common pool resource, and how she distinguishes it from a “public good.” She writes, The relatively high costs of physically excluding joint appropriators from the resource or from improvements made to the resource system are similar to the high costs of excludi