TITLE:
A Multidisciplinary Foundation of Inclusive Institutions Analysis
AUTHORS:
Piet Keizer
KEYWORDS:
Inclusive Institutions, Multi-Motivational Structure, (Ir)Rationality, (Im)Morality, Efficiency, Reason
JOURNAL NAME:
Theoretical Economics Letters,
Vol.8 No.11,
July
31,
2018
ABSTRACT: 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.