Douglass North welcomes two economic pioneers to the Nobel P

[zanattalondon]

New Institutional Economics argues that the way we structure human interaction is a large part of what we want to look at it, if you look at how societies work and when you structure human interaction what you do is you create ways by which structure relationships among humans and that's institutionalism. What institutions are is a framework of structuring human interaction that will allow us to communicate, cooperate and integrate our work with people.

[goPistons06]

this is very interesting. as an economics enthusiast, i find this very refreshing considering mainstream economics