ABSTRACT
This chapter reviews the processes of institutional innovation in the Anglo- American experience. It suggests the historical processes by which order was first achieved and then modified to permit a wider scope for self-willed deliberate action by strategic classes of persons. The chapter discusses the terms of British history the kind of institutional transformation which is, or would be, involved if a traditional subsistence system of agriculture were to become market oriented with resources and products all priced in the marketplace. It describes that the evolution of economic institutions in the Anglo-American tradition with the purpose of understanding how innovations in institutions were achieved. The chapter suggests the historical processes by which order was first achieved and then modified to permit a wider scope for self-willed deliberate action by strategic classes of persons. It explores that the changes in the conceptions of property in the Anglo-American tradition are intended.
