Culture, Human Agency, and Economic Theory: Culture as a Determinant of Material Welfare
Posted: 17 Jan 2010
Date Written: 2001
In this paper cultural factors are incorporated into a behavioral model of economic growth and development and the circumstances under which culture can make a difference are articulated. In this context, the question of the long run survival, in a competitive environment, of firms and societies imbued with cultural precepts that are not conducive to growth and development, is addressed. This discussion attempts to redress a gap in economic theory, which does not well incorporate cultural factors as independent and causally substantive variables.
Keywords: Culture, Material Welfare, Growth, Development, Cultural factors
JEL Classification: J20, O10, Z10
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