Author(s)

Piet Keizer

Utrecht University School of Economics, Utrecht, The Netherlands.

In contrast to prevalent institutional theory this article offers a multi-motivated institutional analysis. Institutions are supposed to channel human behaviour, which is economically, socially and psychically driven, so as to maximize wealth, status and self-respect, respectively. The analysis shows that extractive institutions are the result of the irrationality and immorality, especially of the people in power. The significant reduction of these two characteristics is a necessary condition for a society to become more inclusive.

Inclusive Institutions, Multi-Motivational Structure, (Ir)Rationality, (Im)Morality, Efficiency, Reason

Keizer, P. (2018) A Multidisciplinary Foundation of Inclusive Institutions Analysis. Theoretical Economics Letters, 8, 1987-2005. doi: 10.4236/tel.2018.811130.