Douglass North on Formal and Informal Institutions

In this exclusive Free To Choose Network video, Timur Kuran sits down with Nobel laureate Douglass North to discuss the relationship between formal and informal institutions. How do these rules and norms relate to yield prosperity?
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[@rafau.r]

This guy has huge ears

[@alan6506305]

Thank you, North

[@pattaye2417]

This was really helpful

[@CHANNELONE1]

remodelling informal norms to match the 'rules that work well'