"In 1956 the Dutch economist Jan Tinbergen, who shared the first Nobel Prize for Economics, published his classic study Economic Policy: Theory and Design, which deeply affected and reinforced the way economists thought about the policy implications of their work. The volume, and related work,...

"We are concerned here with the creation of non-market institutions for reducing the cost of risk in poor agrarian societies that operate at low levels of technology without the benefits of insurance, credit and other intertemporal markets. 1 Institutions, the formal and informal rules that...