Global disruptions are marking our days and calling on individuals, institutions, and the State for institutional change. Given the need to understand changing processes and their implications for society and public policy, it is vital to equip Public Administration students with the knowledge of relevant theories to assess the complexity of such institutional dynamics. Interpretation of institutional changes in motion can benefit from revisiting the Institutional Theory. This article analyzes the works of Douglass North and Ha-Joon Chang, two preeminent contributors to Institutional Theory. Their distinct views on institutions, policies, institutional change, and the State contribute to our understanding of current worldwide socio-economic and institutional challenges. Contemporary phenomena, such as the COVID-19 pandemic, the long-term climate change effects, and the recent Russia-Ukraine war, require the use of institutional theories that have proved to be still relevant.