Jun 08 2009

City-regions that struggle together, gain together

by at 3:28 pm

 Avner Greif’s article, “Cultural Beliefs and the Organization of Society…” (1994), presents an important look at how cultural beliefs systems have an impact on trade and markets within societies. When looking at the impact of collectivist societies against individualistic societies, Greif notes that cultural beliefs impact social interactions but can have varying effects on wealth distribution (Greif, 19). The horizontal relationships within collectivism are often very beneficial for individuals in small closed regional economies as they provides the informal institutions of protection and feedback loops, but they do little to grow the market for the overall wealth of the people. It can also have devastating results when groups and their cultural beliefs clash with nearby regions. Continue Reading »

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