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Unintended Consequences: The Impact of Factor Endowments, Culture, and Policy on Long-Run Economic Outcomes

9.99 €
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Unintended Consequences: The Impact of Factor Endowments, Culture, and Policy on Long-Run Economic Outcomes
9.99 €
In basket
The book is devoted to one of the most pressing issues of modern economic science - the importance of cultural preconditions for economic growth in different countries. It is an attempt at an interdisciplinary and cross-cultural explanation of the economic rise of the West (in comparison and against the background of Chinese, Indian and Islamic civilizations). Reviewing a thousand years of economic development in Eurasia, the author seeks an answer to the question: whether modernization must inevitably be accompanied by Westernization, and concludes that although the two were closely linked in the economic development of the West, this condition was not always fulfilled in the rest of the world. The book develops a new analytical framework to incorporate "culture" into economic analysis. The author makes an important distinction between material and cosmological perceptions, showing how both were originally shaped by the endowment of factors of production and how they evolved in different civilizations in response to changing historical circumstances.
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