ABSTRACT
The organization of institutions is not independent of the multitude of critical links between systems characterized by their variables. For instance, preferences arise from the individual level, leading to their family and community formations. Such social preferences in turn lead to the production side of goods and services, and cause the market exchange mechanism to come about. The stream of links is much wider. International trade and global production, ownership, technological choices, power, and the acquisition of wealth further facing the questions of a full spectrum of financial, economic, and ethical issues abide. In the simple case, Nitzan and Bichler (2000, p. 68) write: “Such broader definition could prove important for the international economy. Specifically, it can help us re-interpret state and capital not as separate entities standing against each other, but rather as partly overlapping institutions with intimately intertwined histories. From this perspective, the gradual ascent of global capitalism reflects the changing relationship – both contradictory and reinforcing – between state power anchored in sovereignty and capitalist power rooted in ownership.” In this chapter, we study such a wider field of organic unity between the social interaction for the generation of wellbeing through the organizational and financial domains.
