Business Management: How Culture Shapes Economic Activity

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Business Management: How Culture Shapes Economic Activity
There is presently a debate amongst economists about the role of culture and values in terms of explaining the variation we find amongst different economic systems and the outcomes they produce. The view of this writer is that culture and cultural values deeply influence the development of economic systems and outcomes and that we need to understand the memes, intellectual currents, socialization, and assignations that go on within a culture in order to understand why economic outcomes occur as they do. Of course, to really understand economic decisions, we need to recognize that we must possess a thorough knowledge of the social nature of human beings – how they are socialized and...

.....hed light on differences between people who happen to reside in the same culture.
To end, it is manifest that culture and cultural values do explain variations between economic systems – though no one (as far as I am aware) has yet discovered the precise role of various factors upon differing modes of economic activity in different cultures. We live in a complex world with complex issues, but we must surmise that culture plays an important part in how economic systems are formulated; we may also conclude that we can only begin understanding why societies order themselves as they do or engage in certain consumption practices after we have really grasped the expectations, mores, memes and thought patterns that underlie the society as a whole.