There are certain countries where culture still appears to be a strong determinant. A middle ground does exit, as with most complex concepts. For example, Yeh and Lawrence (1995) contest that Hofstede's model did not allow for an understanding of the multifaceted interrelationships that connect culture and economic growth. Through their studies of the relationship between economic growth and Confucianism, Yeh and Lawrence concluded that "the findings from these studies do not greatly enhance our understanding of the relationship between culture and economic growth and may actually mislead us."
As can be seen by the present influence of globalization and the impact of Western culture across the world on developing countries, economics does undeniably play a major role. Yet, this does not mean that the underlying cultural aspects should be disregarded. Despite the fact that two countries are capitalistic, they can have very different cultural systems that will impact this economy in different ways. There continues to be a need to better understand the manner in which ethnic culture impacts economic activity. In 1906, Paul Lafargue, Marx' son-in-law argued that Marx was not offering his method of historical interpretation as a body of doctrine along with axioms and theorems. Rather, that for Marx his thoughts were only an instrument of research he...
What is important in globalization is to better understand the value system and motivational forces, be they economic or cultural or a combination of the two, for increased mutual appreciation.
References
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Hofstede, G, & Bond, M 1988. "The Confucius Connection: From Cultural Roots to
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Beard, C 1913 an Economic Interpretation of the Constitution of the United States. Viewed 10 May 2010 http://ideas.repec.org/b/hay/hetboo/beard1913.html
Lafargue, P 1906 "Economic Determinism and the Natural and Mathematical Sciences,"
Social Democrat, vol 10, no 3, pp.137, 145.
Service, E 1976 "Leslie Alvin White, 1900-1975," American Anthropologist, vol 78, pp. 612-617
Steward, JH 1972 Theory of Culture Change. University of Illinois Press, Champaign.
Yeh, R & Lawrence, JL. 1995 "Individualism and Confucian dynamism: A note on Hofstede's cultural root to economic growth." Journal of International…
