Economists generally do not define an institution as a

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Social Studies

Tristen Murray

10 February, 13:06

Economists generally do not define an institution as a

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Sincere Huber · Answer 1

Economists generally do not define an institution as a legal system which enforces law or contracts. Economists do, however, define an institution as a government free of corruption, that controls resource allocation, and that is a strong monetary system.