Jean-Paul Faguet

And the two, it's a continuous cycle. And if we try to ignore that or keep these fields too distinct, then we're missing possibly the key part of what's going on in the world.

And the two, it's a continuous cycle. And if we try to ignore that or keep these fields too distinct, then we're missing possibly the key part of what's going on in the world.

That's right. That's right. Yes, absolutely.

That's right. That's right. Yes, absolutely.

Yeah, that's right. Because the institutional literature has been on a a long journey and when the ideas first came up, so one of the earliest but very clearest statements of what our institutions came from Douglas North around 1991 where he published a very famous book, The Great Douglas North, recently deceased. He said institutions, you know, what are they?

Yeah, that's right. Because the institutional literature has been on a a long journey and when the ideas first came up, so one of the earliest but very clearest statements of what our institutions came from Douglas North around 1991 where he published a very famous book, The Great Douglas North, recently deceased. He said institutions, you know, what are they?

It's this fuzzy word that means everything and nothing at the same time. So he said, let's say institutions are the rules of the game. So an institution, for example, is football, let's say, like as in soccer or American football or any sport. And then

It's this fuzzy word that means everything and nothing at the same time. So he said, let's say institutions are the rules of the game. So an institution, for example, is football, let's say, like as in soccer or American football or any sport. And then

Particular teams are organizations that are operating within the framework of the rules that define a particular game where it clearly delineates what is fair and what is unfair play and how you win the game. So you try to get the lowest number of strokes in golf or the highest number of goals in football or whatever it is.

Particular teams are organizations that are operating within the framework of the rules that define a particular game where it clearly delineates what is fair and what is unfair play and how you win the game. So you try to get the lowest number of strokes in golf or the highest number of goals in football or whatever it is.

And so there you get a nice delineation between institutions and organizations.

And so there you get a nice delineation between institutions and organizations.

And what we saw almost immediately, and there's a French theorist called Pierre Bourdieu, sociologist, operating at about the same time, the 80s and early 90s, is that given rules that you can write down in black and white, like the rules of football or the institution of marriage, my family and your family are organizations within the broader institution of marriage, which are the rules about how people relate to each other and how families interact.

And what we saw almost immediately, and there's a French theorist called Pierre Bourdieu, sociologist, operating at about the same time, the 80s and early 90s, is that given rules that you can write down in black and white, like the rules of football or the institution of marriage, my family and your family are organizations within the broader institution of marriage, which are the rules about how people relate to each other and how families interact.

and so on and so forth. You transfer these rules in black and white from one context to another country, another cultural context, and they don't work, or they have completely different outcomes. The rules are the same, right? So to give you two examples of that, most of the Latin American countries essentially copied large amounts of their constitutions from the American constitutions.

and so on and so forth. You transfer these rules in black and white from one context to another country, another cultural context, and they don't work, or they have completely different outcomes. The rules are the same, right? So to give you two examples of that, most of the Latin American countries essentially copied large amounts of their constitutions from the American constitutions.

So go back in history. The first American Articles of Confederation were a dismal failure. The U.S. was falling apart, not working. And then you got a second convention and you got the current American Constitution, you know, before all of the amendments. And this has been a great success up until now.

So go back in history. The first American Articles of Confederation were a dismal failure. The U.S. was falling apart, not working. And then you got a second convention and you got the current American Constitution, you know, before all of the amendments. And this has been a great success up until now.

So the Latin American republics come up a little bit later in the early 1800s, and they basically copy large amounts of it. And these institutions in Latin America do not work the same way that they work in the U.S., even though articles are copied almost verbatim. Or in Africa, you have countries that were large numbers of countries colonized that had been colonized by the French. and the Brits.

So the Latin American republics come up a little bit later in the early 1800s, and they basically copy large amounts of it. And these institutions in Latin America do not work the same way that they work in the U.S., even though articles are copied almost verbatim. Or in Africa, you have countries that were large numbers of countries colonized that had been colonized by the French. and the Brits.