11 July 2026

The Limit of Institutional Imagination

What invention is to products and technology, entrepreneurship is to institutions. 

One of the limits to an entrepreneurial economy will be our institutional imagination. By definition, institutions can do what no individual can. This suggests that the imagination of an individual is not enough. We need something that - like the capability of institutions - emerges out of the interaction of individuals rather than is a story told by or curated by some charismatic leader.

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