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New Institutionalism: Public Agents’ Choices Based on Individual Interests

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  • Jeremias Pereira da Silva Arraes
  • José Matias- Pereira

Abstract

This essay aims to explore the emergence of new institutional theory based on the historical context of the formation of modern society with the change in basic cultural rules. It is observed that there is a change in the power to govern, which was previously given by God or inherited and now depends on the will of society. A movement of rationalization of choices emerges that end up leading to private interests. The vision of the matrix of classic sociological thinkers ends up influencing the intellectual orientations of the Western world and brings important statements to understand the organizations of modern society. The study concludes that the new institutional theory and the theory of public choice help to understand the actions of public agents in favor of their individual interests.

Suggested Citation

  • Jeremias Pereira da Silva Arraes & José Matias- Pereira, 2024. "New Institutionalism: Public Agents’ Choices Based on Individual Interests," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 16(1), pages 1-68, January.
    • Handle: RePEc:ibn:ijefaa:v:16:y:2024:i:1:p:68
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    References listed on IDEAS

    as
    1. Elinor Ostrom & Vincent Ostrom, 2004. "The Quest for Meaning in Public Choice," American Journal of Economics and Sociology, Wiley Blackwell, vol. 63(1), pages 105-147, January.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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