"The Iron Law of Institutions is: the people who control institutions care first and foremost about their power within the institution rather than the power of the institution itself. Thus, they would rather the institution 'fail' while they remain in power within the institution than for the institution to 'succeed' if that requires them to … Continue reading The Iron Law of Institutions
Tag: social dynamics
Tragedy of the Commons After 50 Years & A New Model of the Rational Actor
"[Elinor Ostrom] then developed a 'second-generation model of rationality' in which humans are 'complex, fallible learners who seek to do as well as they can given the constraints that they face and who are able to learn heuristics, norms, rules, and how to craft rules to improve achieved outcomes' (E. Ostrom 1998, p. 9). The … Continue reading Tragedy of the Commons After 50 Years & A New Model of the Rational Actor
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