@edgarblythe,
"An institution is of the nature of a usage which has become axiomatic and indispensible by habituation and general acceptance. Its physiological counterpart would presumably be any one of those habitual addictions that are now attracting the attention of the experts in sobriety."
Thorstein Veblen: Absentee Ownership. 1923.
Mr Veblen is likening the institution, Captain of Industry, to other institutions which are passing away such as the Crown, the Country Gentleman and the Priesthood.
If you love a lot of LOLs you'll love ol' Vebbie. He's a one-man laughing machine which lasts. A beacon of enlightenment.