International Conference of Political Economy (ICOPEC) aiming to identify and analyze state of affairs relevant to our age was organized for the first time with the theme "International Political Economy: Adam Smith Today" in 2009. Following the success of the conference IJOPEC Publication that aims at searching economic and political alternatives became the main supporter of ICOPEC conference by publishing selected papers of the conference in 2010. Consequently, ICOPEC conferences became conference series and the main theme of the 7th conference held in 2016 was defined as “State, Economic Policy, Taxation and Development". IJOPEC Publication has undertaken to publish the papers, presented at this conference in English and Turkish, as five e-books. Institutions, Society & Economic Development is the second volume in this five e-books series. e purpose of the volume is to provide an easy to understand introduction about the interaction between institutions and society in terms of economic development.