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2 results

  • A needs theory of governance: taking transaction cost theory back to humanistic economics and self-actualisation

  • Silvia Sacchetti, Ermanno Tortia
  • Journal:
    Journal of Institutional Economics / Volume 20 / 2024
    Published online by Cambridge University Press:
    26 January 2024, e13
    • Article
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  • In this paper we seek to integrate human needs and self-actualisation into the design of organisational governance. We problematise the assumptions that guide established justifications for governance, thus providing an opportunity for this type of theoretical approach. Drawing on Maslow's human psychology, we consider the potentially regressive features of the prescriptions of transaction cost theory (TCT), particularly the new institutionalist approach, and suggest inclusiveness as a mode of coordination that firms may wish to pursue to enhance self-actualisation. The main value added of this contribution is to highlight the need to discern among modes of governance design, using criteria of welfare maximisation by enabling opportunities for self-actualisation within the firm, different from the TCT focus on internal efficiency.

Systemic Earthquake and the Struggle for World Order
  • Exclusive Populism versus Inclusive Democracy
  • Ahmet Davutoğlu
  • Published online:
    09 January 2020
    Print publication:
    23 January 2020
  • Using the analogy of a devastating series of earthquakes, Davutoğlu provides a new theoretical approach, conceptualization, and methodology for understanding crisis in the post-Cold War era. In order to grasp the scale and scope of the ongoing crises we are experiencing today, Davutoğlu conceptualizes them as 'aftershocks', following in the wake of the four great 'quakes' that have shaken the world in recent times - namely, the geopolitical earthquake triggered by dissolution of the Soviet Union, 1991; the security earthquake, post- 9/11, 2001; the economic earthquake associated with the global economic crisis, 2008; and the structural earthquake of the Arab Spring, 2011. By contextualizing international order as being impacted by a number of intertwined processes, the book then looks to the possible futures ahead. Following his analysis of the ongoing systemic crisis, Davutoğlu forges a vision for a new order of global democracy, built from the rubble of the systemic earthquake.