By Panagiotis E. Petrakis (auth.)
It is a prevalent trust that the cultural historical past inhered in a society impacts the necessities of financial improvement. This courting calls for theoretical and empirical justification. the current booklet presents this including an research of the advance of cultural historical past itself. Cultural historical past is embodied in political associations, in transactions, wisdom, incentives, in social capital, even within the tangibles of the financial system. hence, financial improvement is formed and the speed of progress is affected. Conversely, fiscal improvement impacts cultural heritage. whilst this interplay happens at a non-developmental cultural heritage point, that's linked to low progress premiums, then a development seize is shaped. inside of this type of progress seize, fiscal coverage (public and fiscal) is comparatively deactivated and the stipulations influencing the switch in cultural historical past and its timing are of basic importance.
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Additional resources for Culture, Growth and Economic Policy
In: Wyer RS, Chiu C, Hong YY (eds) Understanding culture: theory, research and application. Psychology Press, New York, NY, pp 211–222 Triandis HC (1995) Individualism and collectivism. Westview Press, Boulder, CO Triandis HC (2009) Ecological determinants of cultural variation. In: Wyer RS, Chiu C, Hong YY (ed) Understanding culture: theory, research and application. Psychology Press, pp 189–210 Triandis HC, Trafimow D (2001) Cross-national prevalence of collectivism. In: Sedikides C, Brewer MB (eds) Individual self, relational self, collective self.
The view that utility was a determinative factor for economic behavior was first opposed by the supporters of the “institutional approach”, such as Veblen and Commons, and by sociologists like Weber. These theorists focused on the role of institutions in economics. By the end of World War II, the neoclassical model was the dominant approach. According to economists, the focal point of economic science is the maximization of an individual’s benefit, meaning that the individual makes the right decisions for the satisfaction of his/her needs.
In such a society, an individual may hold both a high social position (community leader) and a low hierarchical position (employee at the local factory). (h) Immigration: Immigration leads to individualism, given that it includes the basic feature of separating from the group and surviving under private terms. 26 3 The Construction of Cultural Background (i) Lack of ability to foresee natural events: The frequency natural disasters impacts on a society’s cultural background. Therefore, in communities where disasters are frequently repeated, individuals do not develop scheduled activities.