On Saturday I attended a Mercatus Center reception at the American Political Science Association in honor of Douglass North’s new book, Understanding the Process of Economic Change. Doug is an intellectual hero of mine, and I was delighted to finally get a picture with him.
(You can check out my review of Understanding the Process of Economic Change in the Cato Journal here. [.pdf])
And, as a bonus, I had to opportunity to get a snap with Elinor and Vincent Ostrom, two more heroes of mine.
If you read and understood everything Doug North and the Ostroms have written (something I certainly haven’t done), you would know about as much about the nature of economic and political instutions as anyone alive.