Оригинална статия Microeconomics

INDIVIDUALISM, COLLECTIVISM, SOCIAL CAPITAL, AND ECONOMIC DEVELOPMENT

Teodor Sedlarski - Sofia University St. Kliment Ohridski
Received: 17 Jun 2022
Revised:
Published:
Downloads: 0
Citations: 0
Issue 2/2022
JEL D91 Z1 043
DOI https://doi.org/10.56497/etj2267203

Abstract

Abstract: This article summarizes the main distinguishing characteristics of the interactions between economic agents in individualistic and collectivist cultures. A brief systematization of the debate in the literature on the relationship between culture and economic development is proposed and the productivity for the economic analysis of a good knowledge of the peculiarities of national cultures is substantiated. The review necessarily includes evidence and arguments for the existence of mechanisms through which deep aspects of culture influence economic performance, e.g., through the formation of beliefs and preferences – as demonstrated by the effects of social capital. Some of the apparent contradictions in the hypotheses presented can be resolved by considering the scope of the group to which the collective identity and perceived shared responsibilities extend. This leads to the main conclusion of the analysis that the kind of collectivism that hinders economic development usually consists in loyalty to a narrow social group.

How to cite this article

Sedlarski, T. (2022). Individualizam, kolektivizam, sotsialen kapital i ikonomiches- ko razvitie (Individualism, collectivism, social capital, and economic development). Economic Thought Journal, 67(2), pp. 171-204 (in Bulgarian). https://doi.org/10.56497/etj2267203 

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