The History of Honor

Something that becomes very clear very early in anybody’s study of economic development is the importance of a solid foundation in economic history. In fact there is a recent NBER working paper that advocates for a marriage of the two academic sub-disciplines.

In light of this, one of the things I think a lot about these days is how institutions (broadly speaking) influence how we make decisions and behave. Through reading the works of Douglas North (and commentators) and through my work grappling with the optimal role of the Church in encouraging and equipping business growth, in particular, and in propelling economic development, more broadly, I’ve begun to learn something seemingly important.

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