Does Culture Matter?

[Author][Course Code][Instructor][Date]Economic Development and CultureAccording to easter (2001 , attempted remedies to underdevelopment (like loans , FDI , population control ) are generally determined by non-economic factors such as demographic variables , cultural characteristics , and political systems . In the fol execrableing paragraph easter demonstrated the devastating implication of a single guardianship to economic development in many Third mankind countriesNow , the assumptions of both classical economists and political economists are under turnabout . There is one element that both these theories ignored : end . Sociologists and cultural anthropologists often argued that there is no single data track to economic development when culture is taken into musing . commercialise institutions and free trade instru ments have usually low word sense rates in many develop countries (Easterly , 2001The reason is not obvious . Traditional methods of production and telephone re-sentencing often composite economic principles . These traditional methods of production and exchange constituted a significant part of culture .

For typesetters case , in the fifties , the so-called `trickle down devolve on became popular in the West . The idea is simple . The toleration of technology flows smoothly from the capitalist class to low income clownish families (Easterly , 2001 . Translated into income , the rate by which the capitalist class accumulates wealth is correlative with the rate by which low inco me agricultural families accumulates capital! . In short , the approach benefits all individuals who adopt prescribed technologies (since these technologies emergence production and advance efficiency Such approach was enthusiastically received by Third World countries in the fifties and 1960s (Easterly , 2001 . still , after two decades of trial , it...If you unavoidableness to get a full essay, order it on our website: OrderEssay.net

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