# kaal:claim:3782205-006

**Claim.** The eight institutions are necessary conditions for business, which grinds to a halt without them, yet when they run well they consume only a tiny fraction of the economy's resources.

**Type.** condition  **Support.** asserted

**Source quote.**

> These eight institutions are necessary for business. Business grinds to a halt without them, but they require a tiny fraction of the resources in the economy when they are running well.

**From.** Craig Calcaterra, Wulf A. Kaal, *Eight Institutions for the Evolution of Decentralization* (2021), Chapter 9. Eight institutions, page 2

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205

**Verify.** sha256 of source PDF `5ba52c63e81019b6867fb29c4a50821ff574e510d79b31b8ce9f4c726a0ebc71` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Eight%20Institutions%20for%20the%20Evolution%20of%20Decentralization.pdf

**Topics.** institutional-design, economics

**Keywords.** institutions, economic-efficiency, business-infrastructure

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