Learning value and preference, i.e., learning motivation can be conditioned by the value of learning, compensation, etc. integrated into society. If the institutional context of the welfare state becomes a social fact and is experienced by its members, the state s policy support will acquire materiality and become internalized to each people. Along with the context of this new institutionalism, the purpose of this study is to analyze the effect of institution of welfare state on motivation of mathematics learning. This study analyzed the effects of the welfare state system, manipulated by the ratio of social security ratio of GDP, on the intrinsic and extrinsic motivation of mathematics learning by using the data of 34 OECD member countries of PISA 2012. The results show that welfare states significantly reduce intrinsic motivation at national level. This implies that the institutional context of the welfare state is embodied in the society as a whole and is internalized and socialized to the members in the social structural context. In particular, it is worth noting that the decrease in intrinsic motivation in Korea demonstrates a kind of overshooting. In the individual unit, the welfare state decreased intrinsic motivation. The external rewards through institutional guarantee of the welfare state acted as an disincentive to the agency by lowering psychological needs such as competence and autonomy. In addition, extrinsic motivation was also decreased. This can be interpreted as the reduction of extrinsic motivation because the material support of the state through the welfare state replaces the instrumental purpose of learning for future work or career and occupation.