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- W1799098063 abstract "In his 2005 book, Understanding Process of Economic Change, North offers a rough account of economic change that can be called “culturalist economics.” In his account, he attributes change of well being of individuals to, besides technology and demographics, cultural heritage or cultural beliefs. Using this basis, he then attributes the mystery of unique evolution of western to a causative view that combines Christian dogma and English individualism. This combinatory belief assures property rights, and hence explains success of Western Europe and US and failure of Islam and Latin America in terms of their respective economic development. But North’s culturalist economics faces a roadblock: it does not explain origin of beliefs, and it neglects role of rational choice in manufacturing beliefs. Specifically, it ignores roles of agency, revolutionary change, and dynamics of empire." @default.
- W1799098063 created "2016-06-24" @default.
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- W1799098063 date "2006-12-05" @default.
- W1799098063 modified "2023-09-27" @default.
- W1799098063 title "The Roadblock of Culturalist Economics: Economic Change á la Douglass North" @default.
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