Misplaced Pages

#169830

99-596: Rose Franken (December 28, 1895 – June 22, 1988) was an American writer and playwright best known for her Claudia stories, plus the books, films, and plays based on them. Born Rose Dorothy Lewin in Gainesville, Texas , Franken was the youngest child of Michael and Hannah Younker Lewin. When Franken was 12, the family moved to New York; there, she attended the Ethical Culture Fieldston School . After graduation, she planned to attend Barnard College but

198-475: A murder mystery play which is the longest-running West End show , it has by far the longest run of any play in the world, with its 29,500th performance having taken place as of February 2024. Contemporary playwrights in the United States are affected by recent declines in theatre attendance. No longer the only outlet for serious drama or entertaining comedies, theatrical productions must use ticket sales as

297-437: A Darwinian evolution of institutions over time. Public choice theory , another branch of economics with a close relationship to political science, considers how government policy choices are made, and seeks to determine what the policy outputs are likely to be, given a particular political decision-making process and context. Credibility thesis purports that institutions emerge from intentional institution-building but never in

396-434: A bargain. Artificial implementation of institutional change has been tested in political development but can have unintended consequences. North, Wallis, and Weingast divide societies into different social orders: open access orders, which about a dozen developed countries fall into today, and limited access orders, which accounts for the rest of the countries. Open access orders and limited access orders differ fundamentally in

495-408: A cluster of institutions; the two are distinct in the sense that organizations contain internal institutions (that govern interactions between the members of the organizations). An informal institution tends to have socially shared rules, which are unwritten and yet are often known by all inhabitants of a certain country, as such they are often referred to as being an inherent part of the culture of

594-426: A country's constitution; or that they may evolve over time as societies evolve. In the case of institutional evolution, it is harder to see them since societal changes happen in a slow manner, despite the perception that institutional change is rapid. Furthermore, institutions change incrementally because of how embedded they are in society. North argues that the nature of these changes is complicated process because of

693-407: A country. Legitimacy allows for there to be an incentive to comply with institutional rules and conditions, leading to a more effective institution. With political power, its centralization within a small group of individual leaders makes it easier and more effective to create rules and run an institution smoothly. However, it can be abused by individual leaders which is something that can contribute to

792-403: A custom might call for each party to keep to their own right (or left—such a choice is arbitrary, it is only necessary that the choice be uniform and consistent). Such customs may be supposed to be the origin of rules, such as the rule, adopted in many countries, which requires driving automobiles on the right side of the road. Secondly, how do institutions affect behaviour? In this perspective,

891-477: A dramatic form—a play. (The homophone with "write" is coincidental.) The first recorded use of the term "playwright" is from 1605, 73 years before the first written record of the term "dramatist". It appears to have been first used in a pejorative sense by Ben Jonson to suggest a mere tradesman fashioning works for the theatre. Jonson uses the word in his Epigram 49, which is thought to refer to John Marston or Thomas Dekker : Jonson described himself as

990-406: A given country. Informal practices are often referred to as "cultural", for example clientelism or corruption is sometimes stated as a part of the political culture in a certain place, but an informal institution itself is not cultural, it may be shaped by culture or behaviour of a given political landscape, but they should be looked at in the same way as formal institutions to understand their role in

1089-404: A given country. The relationship between formal and informal institutions is often closely aligned and informal institutions step in to prop up inefficient institutions. However, because they do not have a centre, which directs and coordinates their actions, changing informal institutions is a slow and lengthy process. According to Geoffrey M. Hodgson , it is misleading to say that an institution

SECTION 10

#1732858612170

1188-411: A mental institution. To this extent, "institutionalization" may carry negative connotations regarding the treatment of, and damage caused to, vulnerable human beings by the oppressive or corrupt application of inflexible systems of social, medical, or legal controls by publicly owned, private or not-for-profit organizations. The term "institutionalization" may also be used in a political sense to apply to

1287-540: A particular institutional arrangement. Other approaches see institutional development as the result of evolutionary or learning processes. For instance, Pavlović explores the way compliance and socio-economic conditions in a consolidated democratic state are important in the emergence of institutions and the compliance power they have for the rules imposed. In his work, he explains the difference between wealthy societies and non-wealthy societies; wealthy societies on one hand often have institutions that have been functioning for

1386-465: A particular time, culture and society, produced by collective human choice, though not directly by individual intention. Sociology traditionally analyzed social institutions in terms of interlocking social roles and expectations. Social institutions created and were composed of groups of roles, or expected behaviors. The social function of the institution was executed by the fulfillment of roles. Basic biological requirements, for reproduction and care of

1485-446: A phenomenon called path dependence, which states that institutional patterns are persistent and endure over time. These paths are determined at critical junctures, analogous to a fork in the road, whose outcome leads to a narrowing of possible future outcomes. Once a choice is made during a critical juncture, it becomes progressively difficult to return to the initial point where the choice was made. James Mahoney studies path dependence in

1584-621: A play, a radio series ( Claudia ), and two films. These works led to a television series, Claudia (1952). In 1963, Doubleday published Franken's autobiography, When All Is Said and Done . Franken's first play was Another Language (1932), which was the basis for the film Another Language (1933). Her next play was Claudia (1941). On September 1, 1913, she married Sigmund Walter Anthony Franken, an oral surgeon who died on December 17, 1932. They had three children, including physicist Peter Franken . On April 27, 1937, she married writer William Brown Meloney . He died on May 4, 1971. She

1683-635: A playwright, winning awards for his play The Phoenix at both the New York International Fringe Festival in 1999 and the Route 66 American Playwriting Competition in 2000. Today, theatre companies have new play development programs meant to develop new American voices in playwriting. Many regional theatres have hired dramaturges and literary managers in an effort to showcase various festivals for new work, or bring in playwrights for residencies. Funding through national organizations, such as

1782-535: A poet, not a playwright, since plays during that time were written in meter and so were regarded as the province of poets. This view was held as late as the early 19th century. The term "playwright" later again lost this negative connotation. The earliest playwrights in Western literature with surviving works are the Ancient Greeks . These early plays were for annual Athenian competitions among play writers held around

1881-408: A reaction to the decadence of Charles II era productions, sentimental comedy grew in popularity. Playwrights like Colley Cibber and Richard Steele believed that humans were inherently good but capable of being led astray. The Italian Renaissance brought about a stricter interpretation of Aristotle, as this long-lost work came to light in the late 15th century. The neoclassical ideal, which

1980-468: A society make also have lot to do in the survival and eventual evolution of an institution: they foster groups who want to maintain the set of rules of the game (as described by North), keeping a status quo impeding institutional change. People's interests play an important role in determining the direction of institutional change and emergence. Some scholars argue that institutions can emerge spontaneously without intent as individuals and groups converge on

2079-525: A source of income, which has caused many of them to reduce the number of new works being produced. For example, Playwrights Horizons produced only six plays in the 2002–03 seasons, compared with thirty-one in 1973–74. Playwrights commonly encounter difficulties in getting their shows produced and often cannot earn a living through their plays alone, leading them to take up other jobs to supplement their incomes. Many playwrights are also film makers . For instance, filmmaker Morgan Spurlock began his career as

SECTION 20

#1732858612170

2178-584: A superficial form of Western government but with malfunctioning institutions. In a 2020 study, Johannes Gerschewski created a two-by-two typology of institutional change depending on the sources of change (exogenous or endogenous) and the time horizon of change (short or long). In another 2020 study, Erik Voeten created a two-by-two typology of institutional design depending on whether actors have full agency or are bound by structures, and whether institutional designs reflect historical processes or are optimal equilibriums. Institutions and economic development In

2277-441: A system of human-made, nonphysical elements – norms, beliefs, organizations, and rules – exogenous to each individual whose behavior it influences that generates behavioral regularities." Additionally, they specify that organizations "are institutional elements that influence the set of beliefs and norms that can be self-enforcing in the transaction under consideration. Rules are behavioral instructions that facilitate individuals with

2376-530: A system of rules that are complied with in practice and has a high risk of punishment. It is essential because it will create a slippery slope effect on most laws and transform the nature of once-effective institutions. Many may identify the creation of these formal institutions as a fitting way for agents to establish legitimacy in an international or domestic domain, a phenomenon identified by DiMaggio and Powell and Meyer and Rowan as "isomorphism" and that Levitsky and Murillo liken to window dressing. They describe

2475-549: A technology, institutions (in the form of law, policy, social regulations, or otherwise) can become locked into a society, which in turn can shape social or economic development. Arthur notes that although institutional lock-in can be predictable, it is often difficult to change once it is locked-in because of its deep roots in social and economic frameworks. Randall Calvert defines institution as "an equilibrium of behavior in an underlying game." This means that "it must be rational for nearly every individual to almost always adhere to

2574-482: A variety of definitions of the term institution . These definitions entail varying levels of formality and organizational complexity. The most expansive definitions may include informal but regularized practices, such as handshakes, whereas the most narrow definitions may only include institutions that are highly formalized (e.g. have specified laws, rules and complex organizational structures). According to Wolfgang Streeck and Kathleen Thelen , institutions are, in

2673-457: A weak institution, actors cannot depend on one another to act according to the rules, which creates barriers to collective action and collaboration. Other social scientists have examined the concept of institutional lock-in. In an article entitled "Clio and the Economics of QWERTY" (1985), economist Paul A. David describes technological lock-in as the process by which a specific technology dominates

2772-643: A while, but also have a stable economy and economic development that has a direct effect in the society's democratic stability. He presents us with three scenarios in which institutions may thrive in poor societies with no democratic background. First, if electoral institutions guarantee multiple elections that are widely accepted; second, if military power is in evenly equilibrium; and third, if this institutions allow for different actors to come to power. Other scholars see institutions as being formed through social contracts or rational purposeful designs. Origin of institutional theory John Meyer and Brian Rowan were

2871-529: Is de facto (informal) institutions as opposed to de jure (formal) institutions in observing cross-country differences. For instance, Lars Feld and Stefan Voigt found that real GDP growth per capita is positively correlated with de facto , not de juri , institutions that are judicially independent. Scholars have also focused on the interaction between formal and informal institutions as well as how informal institutions may create incentives to comply with otherwise weak formal institutions. This departure from

2970-449: Is a form of behavior. Instead, Hodgson states that institutions are "integrated systems of rules that structure social interactions." Examples of institutions include: In an extended context: While institutions tend to appear to people in society as part of the natural, unchanging landscape of their lives, the study of institutions by the social sciences tends to reveal the nature of institutions as social constructions , artifacts of

3069-527: Is a humanly devised structure of rules and norms that shape and constrain social behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and norms are all examples of institutions. Institutions vary in their level of formality and informality. Institutions are a principal object of study in social sciences such as political science , anthropology , economics , and sociology (the latter described by Émile Durkheim as

Rose Franken - Misplaced Pages Continue

3168-955: Is a utilitarian argument that assumes institutions will evolve to maximize overall welfare for economic efficiency. Contrastingly, in Variation in Institutional Strength , Levitksy and Murillo acknowledge that some formal institutions are "born weak," and attribute this to the actors creating them. They argue that the strength of institutions relies on the enforcement of laws and stability, which many actors are either uninterested in or incapable of supporting. Similarly, Brian Arthur refers to these factors as properties of non-predictability and potential inefficiency in matters where increasing returns occur naturally in economics. According to Mansfield and Snyder, many transitional democracies lack state institutions that are strong and coherent enough to regulate mass political competition. According to Huntington,

3267-503: Is amongst the most famous playwrights in literature, both in England and across the world. The word "play" is from Middle English pleye , from Old English plæġ, pleġa, plæġa ("play, exercise; sport, game; drama, applause"). The word wright is an archaic English term for a craftsperson or builder (as in a wheelwright or cartwright ). The words combine to indicate a person who has "wrought" words, themes, and other elements into

3366-432: Is important to understand what drives institutional change. Acemoglu, Johnson and Robinson assert that institutional change is endogenous. They posit a framework for institutional change that is rooted in the distribution of resources across society and preexisting political institutions. These two factors determine de jure and de facto political power, respectively, which in turn defines this period's economic institutions and

3465-534: Is still useful to playwrights today is the " French scene ", which is a scene in a play where the beginning and end are marked by a change in the makeup of the group of characters onstage rather than by the lights going up or down or the set being changed. Notable playwrights: Greek theater was alive and flourishing on the island of Crete. During the Cretan Renaissance two notable Greek playwrights Georgios Chortatzis and Vitsentzos Kornaros were present in

3564-443: Is the mimetic process where organizations adopt other organizations' practices to resolve internal uncertainty about their own actions or strategy. Lastly, it is the normative pressure where organizations adopt changes related to the professional environment like corporate changes or cultural changes in order to be consistent. In order to understand why some institutions persist and other institutions only appear in certain contexts, it

3663-454: The City Dionysia's competition (the most prestigious of the festivals to stage drama), playwrights were required to present a tetralogy of plays (though the individual works were not necessarily connected by story or theme), which usually consisted of three tragedies and one satyr play. For the ancient Greeks, playwriting involved poïesis , "the act of making". This is the source of

3762-650: The Cournot duopoly model is based on an institution involving an auctioneer who sells all goods at the market-clearing price. While it is always possible to analyze behaviour with the institutions-as-equilibria approach instead, it is much more complicated. In political science , the effect of institutions on behavior has also been considered from a meme perspective, like game theory borrowed from biology. A "memetic institutionalism" has been proposed, suggesting that institutions provide selection environments for political action, whereby differentiated retention arises and thereby

3861-600: The National Endowment for the Arts and the Theatre Communications Group , encouraged the partnerships of professional theatre companies and emerging playwrights. Playwrights will often have a cold reading of a script in an informal sitdown setting, which allows them to evaluate their own plays and the actors performing them. Cold reading means that the actors haven't rehearsed the work, or may be seeing it for

3960-453: The interregnum , and Restoration of the monarchy in 1660, there was a move toward neoclassical dramaturgy. Between the Restoration of the monarchy in 1660 and the end of the 17th century, classical ideas were in vogue. As a result, critics of the time mostly rated Shakespeare below John Fletcher and Ben Jonson. This period saw the first professional woman playwright, Aphra Behn . As

4059-469: The "lock-in" phenomenon in which adds a lot of value to a piece of technology that is used by many people. It is important for policymakers and people of higher levels within an institution to consider when looking at products that have a long term impact on markets and economic developments and stability. For example, recently the EU has banned TikTok from official devices across all three government institutions. This

Rose Franken - Misplaced Pages Continue

4158-482: The "science of institutions, their genesis and their functioning"). Primary or meta-institutions are institutions such as the family or money that are broad enough to encompass sets of related institutions. Institutions are also a central concern for law , the formal mechanism for political rule-making and enforcement. Historians study and document the founding, growth, decay and development of institutions as part of political, economic and cultural history. There are

4257-461: The 13th century. The majority of these plays come from France and Germany and are similar in tone and form, emphasizing sex and bodily excretions. The best known playwright of farces is Hans Sachs (1494–1576) who wrote 198 dramatic works. In England, The Second Shepherds' Play of the Wakefield Cycle is the best known early farce. However, farce did not appear independently in England until

4356-579: The 16th century with the work of John Heywood (1497–1580). Playwright William Shakespeare remains arguably the most influential writer in the English language, and his works continue to be studied and reinterpreted. Most playwrights of the period typically collaborated with others at some point, as critics agree Shakespeare did, mostly early and late in his career. His plays have been translated into every major living language and are performed more often than those of any other playwright. In England, after

4455-473: The 5th century BC. Such notables as Aeschylus , Sophocles , Euripides , and Aristophanes established forms still relied on by their modern counterparts. We have complete texts extant by Aeschylus, Sophocles, and Euripides . The origins of Athenian tragedy remain obscure, though by the 5th century it was institutionalised in competitions ( agon ) held as part of festivities celebrating Dionysos (the god of wine and fertility ). As contestants in

4554-465: The Central American countries. Though institutions are persistent, North states that paths can change course when external forces weaken the power of an existing organization. This allows other entrepreneurs to affect change in the institutional framework. This change can also occur as a result of gridlock between political actors produced by a lack of mediating institutions and an inability to reach

4653-424: The English word poet . Despite Chinese Theatre having performers dated back to the 6th century BC with You Meng , their perspective of theatre was such that plays had no other role than "performer" or "actor", but given that the performers were also the ones who invented their performances, they could be considered a form of playwright. Outside of the Western world there is Indian classical drama , with one of

4752-602: The Japanese people and government. Under this analysis, says Ian Lustick, Japan was stuck on a "local maxima", which it arrived at through gradual increases in its fitness level, set by the economic landscape of the 1970s and 80s. Without an accompanying change in institutional flexibility, Japan was unable to adapt to changing conditions, and even though experts may have known which changes the country needed, they would have been virtually powerless to enact those changes without instituting unpopular policies that would have been harmful in

4851-400: The ability to cause change over a long period of time. For example, Levitsky and Murillo stress the importance of institutional strength in their article "Variation in Institutional Strength." They suggest that in order for an institution to maintain strength and resistance there must be legitimacy within the different political regimes, variation in political power, and political autonomy within

4950-440: The amount of freedom of a society, or the quality of life of the individuals within. The term "institutionalization" is widely used in social theory to refer to the process of embedding something (for example a concept, a social role, a particular value or mode of behavior) within an organization, social system, or society as a whole. The term may also be used to refer to committing a particular individual to an institution, such as

5049-443: The behavior prescriptions of the institution, given that nearly all other individuals are doing so." Robert Keohane defined institutions as "persistent and connected sets of rules (formal or informal) that prescribe behavioral roles, constrain activity, and shape expectations." Samuel P. Huntington defined institutions as "stable, valued, recurring patterns of behavior." Avner Greif and David Laitin define institutions "as

SECTION 50

#1732858612170

5148-421: The benefits they can derive from the change. North describes the institutional change as a process that is extremely incremental, and that works through both formal and informal institutions. North also proposes that institutional change, inefficiencies, and economic stagnation can be attributed to the differences between institutions and organizations. This is because organizations are created to take advantage of

5247-430: The changes in rules, informal constraints, and the effectiveness of enforcement of these institutions. Levitsky and Murillo explore the way institutions are created. When it comes to institutional design, the timeframe in which these institutions are created by different actors may affect the stability the institution will have on society, because in these cases the actors may have more (or less) time to fully calculate

5346-420: The cognitive task of choosing behavior by defining the situation and coordinating behavior." All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and norms are all examples of institutions. Organizations and institutions can be synonymous, but Jack Knight writes that organizations are a narrow version of institutions or represent

5445-404: The concept of a fitness landscape and local maxima only makes sense if one institution can be said to be "better" than another, and this in turn only makes sense insofar as there exists some objective measure of an institution's quality. This may be relatively simple in evaluating the economic prosperity of a society, for example, but it is difficult to see how objectively a measure can be applied to

5544-502: The context of institutions and how they are formed, North suggests that institutions ultimately work to provide social structure in society and to incentivize individuals who abide by this structure. North explains that there is in fact a difference between institutions and organizations and that organizations are "groups of people bound by some common purpose to achieve objectives." Additionally, because institutions serve as an umbrella for smaller groups such as organizations, North discusses

5643-488: The context of national regime change in Central America and finds that liberal policy choices of Central American leaders in the 19th century was the critical juncture that led to the divergent levels of development that we see in these countries today. The policy choices that leaders made in the context of liberal reform policy led to a variety of self-reinforcing institutions that created divergent development outcomes for

5742-671: The costs of exchange and production. He emphasizes that small historical and cultural features can drastically change the nature of an institution. Daron Acemoglu , Simon Johnson , and James A. Robinson agree with the analysis presented by North. They write that institutions play a crucial role in the trajectory of economic growth because economic institutions shape the opportunities and constraints of investment. Economic incentives also shape political behavior, as certain groups receive more advantages from economic outcomes than others, which allow them to gain political control. A separate paper by Acemoglu, Robinson, and Francisco A. Gallego details

5841-451: The countries with ineffective or weak institutions often have a gap between high levels of political participation and weak political institutions, which may provoke nationalism in democratizing countries. Regardless of whether the lack of enforcement and stability in institutions is intentional or not, weakly enforced institutions can create lasting ripples in a society and their way of functioning. Good enforcement of laws can be classified as

5940-430: The developing world institutions as "window-dressing institutions" that "are often a response to international demands or expectations." It also provides an effective metaphor for something that power holders have an interest in keeping on the books, but no interest in enforcing. The dependence developing countries have on international assistance for loans or political power creates incentives for state elites to establish

6039-585: The extent that they are associated with changes in institutions. In European history, particular significance is attached to the long transition from the feudal institutions of the Middle Ages to the modern institutions, which govern contemporary life. Scholars have proposed different approaches to the emergence of institutions, such as spontaneous emergence, evolution and social contracts. In Institutions: Institutional Change and Economic Performance , Douglas North argues that institutions may be created, such as

SECTION 60

#1732858612170

6138-456: The faults of these policies. As an example, Lustick cites Amyx's analysis of the gradual rise of the Japanese economy and its seemingly sudden reversal in the so-called "Lost Decade" . According to Amyx, Japanese experts were not unaware of the possible causes of Japan's economic decline. Rather, to return Japan's economy back to the path to economic prosperity, policymakers would have had to adopt policies that would first cause short-term harm to

6237-626: The first scholars to introduce institutional theory to inspect how organizations are shaped by their social and political environments and how they evolve in different ways. Other scholars like Paul DiMaggio and Walter Powell proposed one of the forms of institutional change shortly after: institutional isomorphism. There were three main proposals. The first one is the coercive process where organizations adopt changes consistent with their larger institution due to pressures from other organizations which they might depend on or be regulated by. Such examples include state mandates or supplier demands. The second one

6336-733: The first time, and usually, the technical requirements are minimal. The O'Neill Festival offers summer retreats for young playwrights to develop their work with directors and actors. Playwriting collectives like 13P and Orbiter 3 gather members together to produce, rather than develop, new works. The idea of the playwriting collective is in response to plays being stuck in the development process and never advancing to production. Institution 1800s: Martineau · Tocqueville  ·  Marx ·  Spencer · Le Bon · Ward · Pareto ·  Tönnies · Veblen ·  Simmel · Durkheim ·  Addams ·  Mead · Weber ·  Du Bois ·  Mannheim · Elias An institution

6435-559: The focus is on behaviour arising from a given set of institutional rules. In these models, institutions determine the rules (i.e. strategy sets and utility functions) of games, rather than arise as equilibria out of games. Douglass North argues, the very emergence of an institution reflects behavioral adaptations through his application of increasing returns . Over time institutions develop rules that incentivize certain behaviors over others because they present less risk or induce lower cost, and establish path dependent outcomes. For example,

6534-435: The formation of smaller groups with other goals and objectives is crucial for an institution's survival. Additionally, technological developments are important in the economic development of an institution. As detailed by Brian Arthur in "Competing Technologies, Increasing Returns, and Lock-in by Historical Events", technological advancements play a crucial role in shaping the economic stability of an institution. He talks about

6633-461: The impact of institutional change and the ways in which it can cause economic performance to decline or become better depending on the occurrence. This is known as "path dependence" which North explains is the idea of historical and cultural events impacting the development of institutions over time. Even though North argues that institutions due to their structure do not possess the ability to change drastically, path dependence and small differences have

6732-523: The impact of institutions on economic development in various countries, concluding that institutions in prosperous countries like the United States induced a net increase in productivity, whereas institutions in Third World countries caused a net decrease. Scholars of this period assumed that "parchment institutions" that were codified as law would largely guide the behavior of individuals as intended. On

6831-495: The impacts the institution in question will have, the way the new rules affect people's interests and their own, and the consequences of the creation of a new institution will have in society. Scholars like Christopher Kingston and Gonzalo Caballero also pose the importance of gradual societal change in the emergence of brand new institutions: these changes will determine which institutions will be successful in surviving, spreading, and becoming successful. The decisions actors within

6930-519: The importance of institutional strength can be found in Lacatus' essay on national human rights institutions in Europe, where she states that "As countries become members of GANHRI, their NHRIs are more likely to become stronger over time and show a general pattern of isomorphism regarding stronger safeguards for durability." This demonstrates that institutions running independently and further creating spaces for

7029-503: The inability of institutions to adapt as a symptom of being stuck on a local maxima within a fitness landscape does nothing to solve the problem. At the very least, however, it might add credibility to the idea that truly beneficial change might require short-term harm to institutions and their members. David Sloan Wilson notes that Lustick needs to more carefully distinguish between two concepts: multilevel selection theory and evolution on multi-peaked landscapes. Bradley Thayer points out that

7128-497: The individual actors within an institution. This can also be seen in the recent issue with Silvergate and money being moved to crypto exchanges under the SEN Platform institution, which has led the bank to "delay the filing of its annual report due to questions from its auditors." Additionally, they lost many crypto clients the next day allowing the bank's stock price to fall by 60% before it stabilized again. These examples demonstrate

7227-407: The individual liberty of a truly free society. Economics , in recent years, has used game theory to study institutions from two perspectives. Firstly, how do institutions survive and evolve? In this perspective, institutions arise from Nash equilibria of games. For example, whenever people pass each other in a corridor or thoroughfare, there is a need for customs, which avoid collisions. Such

7326-411: The institution to improve any further, it would first need to decrease its overall fitness score (e.g., adopt policies that may cause short-term harm to the institution's members). The tendency to get stuck on local maxima can explain why certain types of institutions may continue to have policies that are harmful to its members or to the institution itself, even when members and leadership are all aware of

7425-486: The latter part of the 16th century. The plays of Gotthold Ephraim Lessing , Johann Wolfgang von Goethe , Friedrich Schiller , and other Sturm und Drang playwrights inspired a growing faith in feeling and instinct as guides to moral behavior and were part of the German romanticism movement. Aleksandr Ostrovsky was Russia's first professional playwright). Author and playwright Agatha Christie wrote The Moustrap ,

7524-404: The market, even when the technology is not the most efficient of the ones available. He proceeds to explain that lock-in is a result of path-dependence, where the early choice of technology in a market forces other actors to choose that technology regardless of their natural preferences, causing that technology to "lock-in". Economist W. Brian Arthur applied David's theories to institutions. As with

7623-569: The most general sense, "building blocks of social order: they represent socially sanctioned, that is, collectively enforced expectations with respect to the behavior of specific categories of actors or to the performance of certain activities. Typically, they involve mutually related rights and obligations for actors." Sociologists and anthropologists have expansive definitions of institutions that include informal institutions. Political scientists have sometimes defined institutions in more formal ways where third parties must reliably and predictably enforce

7722-426: The next period's political institutions. Finally, the current economic institutions determine next period's distribution of resources and the cycle repeats. Douglass North attributes institutional change to the work of "political entrepreneurs", who see personal opportunities to be derived from a changed institutional framework. These entrepreneurs weigh the expected costs of altering the institutional framework against

7821-433: The oldest known playwrights being Śudraka , whose attributed plays can be dated to the second century BC. The Nāṭya Shāstra , a text on the performing arts from between 500BC-500AD, categorizes playwrights as being among the members of a theatre company, although playwrights were generally the highest in social status, with some being kings. In the 4th century BCE, Aristotle wrote his Poetics , in which he analyzed

7920-638: The opportunities created by institutions and, as organizations evolve, these institutions are then altered. Overall, according to North, this institutional change would then be shaped by a lock-in symbiotic relationship between institutions and organizations and a feedback process by which the people in a society may perceive and react to these changes. Lipscomb argues that patterns of institutional change vary according to underlying characteristics of issue areas, such as network effects. North also offers an efficiency hypothesis, stating that relative price changes create incentives to create more efficient institutions. It

8019-404: The originally intended form. Instead, institutional development is endogenous and spontaneously ordered and institutional persistence can be explained by their credibility, which is provided by the function that particular institutions serve. Political scientists have traditionally studied the causes and consequences of formal institutional design. For instance, Douglass North investigated

8118-546: The other hand, recent scholars began to study the importance of institutional strength, which Steven Levitsky and María Victoria Murillo define in terms of the level of enforcement and sustainability of an institution. Weak institutions with low enforcement or low sustainability led to the deterioration of democratic institutions in Madagascar and the erosion of economic structures in China. Another area of interest for modern scholars

8217-435: The principle of action or praxis as the basis for tragedy. He then considered elements of drama: plot ( μύθος mythos ), character ( ἔθος ethos ), thought ( dianoia ), diction ( lexis ), music ( melodia ), and spectacle ( opsis ). Since the myths on which Greek tragedy were based were widely known, plot had to do with the arrangement and selection of existing material. Character

8316-499: The relationships between institutions, human capital, and economic development. They argue that institutions set an equal playing field for competition, making institutional strength a key factor in economic growth. Authors Steven Levitsky and María Victoria Murillo claim that institutional strength depends on two factors: stability and enforcement. An unstable, unenforced institution is one where weak rules are ignored and actors are unable to make expectations based on their behavior. In

8415-692: The rules governing the transactions of first and second parties. One prominent Rational Choice Institutionalist definition of institutions is provided by Jack Knight who defines institutions as entailing "a set of rules that structure social interactions in particular ways" and that "knowledge of these rules must be shared by the members of the relevant community or society." Definitions by Knight and Randall Calvert exclude purely private idiosyncrasies and conventions. Douglass North argues that institutions are "humanly devised constraints that shape interaction". According to North, they are critical determinants of economic performance, having profound effects on

8514-707: The short-term. The lessons from Lustick's analysis applied to Sweden's economic situation can similarly apply to the political gridlock that often characterizes politics in the United States. For example, Lustick observes that any politician who hopes to run for elected office stands very little to no chance if they enact policies that show no short-term results. There is a mismatch between policies that bring about short-term benefits with minimal sacrifice, and those that bring about long-lasting change by encouraging institution-level adaptations. There are some criticisms to Lustick's application of natural selection theory to institutional change. Lustick himself notes that identifying

8613-504: The social sciences, particularly those with the institution as a central concept, can benefit by applying the concept of natural selection to the study of how institutions change over time. By viewing institutions as existing within a fitness landscape , Lustick argues that the gradual improvements typical of many institutions can be seen as analogous to hill-climbing within one of these fitness landscapes. This can eventually lead to institutions becoming stuck on local maxima , such that for

8712-426: The supposed human "propensity to truck, barter and exchange". Modern feminists have criticized traditional marriage and other institutions as element of an oppressive and obsolete patriarchy . The Marxist view—which sees human nature as historically 'evolving' towards voluntary social cooperation, shared by some anarchists —is that supra-individual institutions such as the market and the state are incompatible with

8811-451: The traditional understanding of institutions reflects the scholarly recognition that a different framework of institutional analysis is necessary for studying developing economies and democracies compared to developed countries. In history, a distinction between eras or periods, implies a major and fundamental change in the system of institutions governing a society. Political and military events are judged to be of historical significance to

8910-481: The unities. Decorum fitted proper protocols for behavior and language on stage. In France, contained too many events and actions, thus, violating the 24-hour restriction of the unity of time. Neoclassicism never had as much traction in England, and Shakespeare 's plays are directly opposed to these models, while in Italy, improvised and bawdy commedia dell'arte and opera were more popular forms. One structural unit that

9009-432: The way power and influence is distributed. As a result, open access institutions placed in limited access orders face limited success and are often coopted by the powerful elite for self-enrichment. Transition to more democratic institutions is not created simply by transplanting these institutions into new contexts, but happens when it is in the interest of the dominant coalition to widen access. Ian Lustick suggests that

9108-525: The ways in which institutions and the economy interact, and how the well-being of the economy is essential for the institution's success and ability to run smoothly. North argues that because of the preexisting influence that existing organizations have over the existing framework, change that is brought about is often in the interests of these organizations. This is because organizations are created to take advantage of such opportunities and, as organizations evolve, these institutions are altered. This produces

9207-403: The weakening of an institution over time. Lastly, independence within an institution is vital because the institutions are making decisions based on expertise and norms that they have created and built over time rather than considerations from other groups or institutions. Having the ability to operate as an independent institution is crucial for its strength and resistance over time. An example of

9306-655: The young, are served by the institutions of marriage and family, for example, by creating, elaborating and prescribing the behaviors expected for husband/father, wife/mother, child, etc. The relationship of the institutions to human nature is a foundational question for the social sciences. Institutions can be seen as "naturally" arising from, and conforming to, human nature—a fundamentally conservative view—or institutions can be seen as artificial, almost accidental, and in need of architectural redesign, informed by expert social analysis, to better serve human needs—a fundamentally progressive view. Adam Smith anchored his economics in

9405-703: Was determined by choice and by action. Tragedy is mimesis —"the imitation of an action that is serious". He developed his notion of hamartia , or tragic flaw, an error in judgment by the main character or protagonist , which provides the basis for the "conflict-driven" play. There were also a number of secular performances staged in the Middle Ages, the earliest of which is The Play of the Greenwood by Adam de la Halle in 1276. It contains satirical scenes and folk material such as faeries and other supernatural occurrences. Farces also rose dramatically in popularity after

9504-456: Was due to "cybersecurity concerns" and data protection in regards to data collection by "third parties." This concern regarding TikTok's growing popularity demonstrates the importance of technological development within an institutional economy. Without understanding of what these products are doing or selling to the consumers, there runs a risk of it weakening an institution and causing more harm than good if not carefully considered and examined by

9603-603: Was one of the artists and writers to visit Melrose Plantation on the Cane River in Louisiana. Franken died on June 22, 1988, in Tucson, Arizona, at age 92. She was survived by her sons, Paul, John, and Peter; four grandchildren, and one great-grandchild. Playwright The earliest playwrights in Western literature with surviving works are the Ancient Greeks . William Shakespeare

9702-495: Was to reach its apogee in France during the 17th century, dwelled upon the unities , of action, place, and time. This meant that the playwright had to construct the play so that its "virtual" time would not exceed 24 hours, that it would be restricted to a single setting, and that there would be no subplots. Other terms, such as verisimilitude and decorum, circumscribed the subject matter significantly. For example, verisimilitude limits of

9801-441: Was wed instead. Franken began writing after her second child was born. The editor to whom she sent her early work liked it and asked for more, thus beginning her career as a writer. Her books included Of Great Riches (1937), Strange Victory (1939), Claudia: The Story of A Marriage (1939), and When Doctors Disagree (1940). From her novel Claudia and a Redbook magazine serial story, "Claudia and David," Franken developed

#169830