Conformity can be costly in a world of uncertainty which requires innovative institutional creation because no one can know the right path to survival. Over time, the richer the cultural context in terms of providing multiple experimentation and creative competition, the more likely the successful survival of the society
Douglass NorthMy brother and sister are both older than I am and were born before my father went off to World War I.
Douglass NorthIt was not until I got my first job, at the University of Washington in Seattle, and began playing chess with Don Gordon, a brilliant young theorist, that I learned economic theory.
Douglass North