In addition, − the Bank for International Settlements (BIS) provides analytical, statistical and secretariat support for various official groupings working to strengthen the global financial system; and − the Organisation for Economic Co-operation and Development (OECD) participates in the process of macroeconomic and financial surveillance and formulates guidelines for evaluating and improving the framework for corporate governance.
In the mainstream framework, all of us would be individuals maximizing utility to one’s self irrespective of the utility of others around us. We do, however, care about the welfare and consumption of people around us, i.e., our family and friends. Even when we move away from the close circle of family and friends, we do not necessarily always act in self centered ways.