A main feature that distinguishes the human species from others on earth can perhaps be best summarized as its ability to design. Other attributes distinguishing humans from other living beings can be regarded as derivatives of being a “designer”. The most tangible form of the designs achieved by mankind so far is that of tools, tools created in order to achieve some objective which precedes the existence of the tool. This notion of design applies to the most primitive as well as the most advanced tools, such as we see in modern production processes based on the so-called information technologies. Although design pertaining to tool-making in this sense is as old as mankind itself, its conscious application in the social and economic sphere is very modern, and a systematic treatment of social and economic design on a scientific basis is even more recent. Social and economic institutions have in many important cases evolved by spontaneous processes based on trial and error. Until the last century conscious social design was confined to certain modifications of already existing institutions. The creation of new institutions so as to achieve a socially targeted objective is very novel and yet awaits future societies to be put into practice with full strength.