The Roles of Societal Issues & Cultural Issues in Economic Growth

A variety of explanations has been offered as explanations of why some unfolding economies seem never to develop economically. Further, the character of these explanations on each side of the stretch forth has changed everyplace the years. A simplified rendering of the dichotomy on the issue finds that one side contends that the absence of capital (or access to capital), wretched physical resource bases, over population, and a myriad former(a) structural factors are the causes of slow economic ontogeny or a perennial analyseure to develop or amaze economic evolution (Lehman, 2002). The other side of the issue does not deny that such factors are important; however, they do not consider them to be insurmountable problems. The general contention lay out forward by the proponents of this alternative side of the issue is that economies fail to develop or fail to sustain development for a quite different reason.

They contend that economies fail to develop or to sustain development because their societal and cultural preferences foster the development of barriers to those agents in an economy who would take the actions (take risks, innovate, and create) that would spur economic growth (Walsh & Kirchhoff, 2002). The issue of why some economies fail to develop or fail to sustain development is examined in this paper.

In a recent paper, Roll and Talbott (2003) suggested that societal factors and cultural preferences a

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