By Francesco Duina
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Extra resources for Institutions and the Economy
Power structures, cultural, historical, technological, and other factors influence those institutions. , what obligations one must meet to become a doctor) constantly change over time in response to new research findings, lobbying, dominant standards for truth, and other variables. Primary care physicians must now learn far more about nutrition, for instance, than they did 50 years ago. New medical specializations, in turn, are routinely established in response not only to new empirical evidence but also to shifts in how illnesses and diseases are understood and interpreted.
Here, tourists are hoping for a more intimate, more ambiguous, and almost emotional experience, one in which they see themselves as travelers from distant, well-off countries falling in love with exotic girls from a poorer, though more sensuous, place. But institutional factors can also be more directly involved with the making and changing of preferences. Indeed, they are sometimes designed specifically to influence those preferences. For instance, tax laws covering mortgage interest deductions affect how people feel about purchasing a home.
The second way in which institutions affect these spaces is by endowing them with certain properties. First, these spaces are never fixed. What is left out of one space at one point in time is sometimes allowed later on. This was the case of alcohol during and after Prohibition, various types of pharmaceutical drugs or alternative medicines, certain financial products and services, certain types of foods, gambling, and so on. Such changes happen most directly because of changes in laws. Institutions change.