Life Crisis Explained By Institutional Failure

This article is about the life crisis described by a Harvard Business Review writer. This is not a psychology blog, but he raises a good point that is relevant to economics. He places the blame for his crisis on institutional failure. He claims that institutions make the rules and that following those rules does not provide the guidance that we need to lead a meaningful life. In his opinion the institutions extract value rather than adding value to his life. The focus that he puts on institutions that make the rules is certainly different from one of the central tenets in economics which assumes that individual agents make the important decisions that determine economic output. You won't find much discussion about the role of institutions in introductory textbooks. The invisible hand may well be the institutional rules that guide our behavior and influence our decisions.