Economists argue that some environments are more conducive to
economic growth than others. One of the ways economists
differentiate one environment from another is in terms of its
institutions. An institution is “the rules of the game in a society
or, more formally, the humanly devised constraints that shape human
interaction: the rules and regulations, laws, customs, and business
practices of a country.” Do you agree that institutions are
conducive to economic growth? If so, how? Briefly discuss. Search
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