Economic Development And Institutional Change

This is a changing world. The development of economic and society brings more hope to the people than ever. Improvement in living and soul makes us freer in choice. All of these progresses belong to the people who devote their life improving quality of men. Steve Jobs is one of these people who have persistent will and unyielding spirit or coverage to challenge the exist order. It’s the spirit of innovation that makes the world different by these guys. Not only influence the world by the spirit, but also by their work that changes the life of everyone.Except these respected people, another factor we can learn from the happenings is institution. In some word, these people have been encouraged by these institutions. It encourages people engaged in innovation till devoting one’s life. And these are one of the functions of institution. It has important influence in development of society, thus people have regarded it highly. Maybe this is the reason of more reform happening. And researchers have given more attention in institution studying, thus some results about institution are made, formed our knowledge now.Nowadays, studies in institution turn down gradually, but it happened in all field. And I think it will pass then turn prosperity. It will break through in paradigm about research. Because institution had brought us more surprise than ever. It manifest the trend that institution will influence the economic and society deeper and deeper, and the innovation in institution is more and more frequently. This will provide more elements for study in institution, and promote the research.