Hermeneutics of Rent-Seeking Theory, Social Goal-Objective Formation and Fuzzy-Stochastic Rationality

Abstract

In the monograph devoted to examining the political economy of social goal objective formation in a democratic decision-choice system [R15.18], we discussed the problem of coalition formations as they relate to the political economy of collective decision-choice actions on national interest, social vision and the formation of their supporting social goal-objective set, on the basis of citizens’ sovereignty. The concept of citizens’ sovereignty relates to the distribution of the decision-making power. The goal-objective set is related to the decision-choice action on private-public sector combinations of the political economy that will show the directions of disappearances of outmoded institutions and the emergence of new institutions in terms of destruction- construction duality. The decision-choice process in the social decision-choice space led us to discuss the structure of coalition formations in the game of the collective choice of an institutional structure that may come to influence the dynamics of the social goal-objective formation.