First let me state that I am not alone in my beliefs on this issue. Many economists are reluctant to consider culture because it is too broad and vague to enter the economic discourse with a testable hypothesis (Guiso, Sapienza & Zingales 2006 p.1). This has however not stopped the insurgence of sociologists entering the realm of economics with more powerful measuring tools to back their exaggerated claims of a cause and effect, of culture on economics. Specifically these sociologists and economists dispute Marx’s claim that “The mode of production of material life conditions the social, political and intellectual life process in general” (Marx 1859). In other words economic condi...
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...act but the reasons and questionable data provided to support such a hypothesis is not sufficient for a direct correlation to occur, consequently do to such weak and morally questionable arguments.
Dar, A.H., & Presley, R.J. (2001) Lack of Profit Loss Sharing in Islamic Banking: Management and Control Imbalances, Loughborough University
Diamond, J. (1997) Guns, Germs and Steel: A short history of everybody for the last 13,000 years, London: Vintage, 2005
Guiso, L., Sapienza, P., & Zingales, L. (2006) DOES CULTURE AFFECT ECONOMIC OUTCOMES?, The Journal of Economic Prospective
GRAY, J.S. (1988) Towards a Theory of Cultural Influence on the Development of Accounting Systems Internationally University of Glasgow, Scotland
Marx, Karl (1859) A Contribution to the Critique of Political Economy, International Publishers, New York, 1979,
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