ECON301 Lecture Notes - Lecture 6: Social Capital, Alexis De Tocqueville, World Values Survey
6 Nov 2017
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Some cultures are good/bad for growth, western underlying values had the superior values for growth, and the japanese. (confucius values) Culture: biased: we pick a particular aspect that works well in our society and claim that was the key for development. i. e. individualism in western societies, collectivist values in asia. (after 1997. Asian crisis, all this values became a bad thing: not clear or consistent, one of the weaker cases in matters for growth, do people differ in values throughout the world, maybe. It does(cid:374)"t look like the(cid:396)e a(cid:396)e sig(cid:374)ifi(cid:272)a(cid:374)t patte(cid:396)(cid:374)s (cid:271)et(cid:449)ee(cid:374) de(cid:448)eloped a(cid:374)d underdeveloped countries: trust, government intervention, redistribution of income by the government have some pattern, world values survey: questions about the above ideas, cultural mappings, various dimensions: Intellectual autonomy vs. affective autonomy: preference of hierarchy or autonomy, mastery vs. harmony (people make decisions together, embeddedness (how much you value stability on society)
