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A Multidisciplinary Foundation of Inclusive Institutions Analysis

2018; Scientific Research Publishing; Volume: 08; Issue: 11 Linguagem: Inglês

10.4236/tel.2018.811130

2162-2078

Piet Keizer,

Economic Theory and Institutions

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.