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INSTITUTION is a verbal symbol which for want of a better describes a cluster of social usages. It connotes a way of thought or action of some prevalence and permanence, which is embedded in the habits of a group or the customs of a people.

— Walton Hale Hamilton Walton H (1932)

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Institutions is a verbal symbol which for want of a better describes a cluster of social usages. It connotes a way of thought or action of some prevalence and permanence, which is embedded in the habits of a group or the customs of a people.

There [is]... a list of five tests which any body of doctrine which aspires to the name of economic theory must be able to meet

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Quote text and notes from Wikiquote: Walton Hale Hamilton (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.