economics and institutions

This may not seem to have much to do with economics, but in fact it is very relevant to a related debate in economics: the role of institutions in development.

Everyone now agrees that "institutions matter", but this is partly because "institutions" is a catchall word that can include almost anything anyone cares about, if one squints hard enough and tilts one's head at just the right angle. Government, social structure, and economic practices get squashed into the word "institutions", whereupon we can all agree that the things that matter, matter.