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The Cultural Background Change

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Abstract

The present chapter deals with a fundamental question concerning possible changes in values and cultural background over time. Examining the dynamic nature of cultural background may help to explain possible economic failures due to economic systems’ inability to adapt to social conditions. The proper analysis of the prevailing conditions in each society is essential to setting appropriate economic growth policies. If values remain steady over time, then economic policy should adapt to the prevailing values. When social development is in line with changes in economic conditions, the result is an improvement in living standards and increased prosperity.

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Authors and Affiliations

  1. Department of Economics, University of Athens, Athens, Greece

    Panagiotis E. Petrakis

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  1. Panagiotis E. Petrakis
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Petrakis, P.E. (2014). The Cultural Background Change. In: Culture, Growth and Economic Policy. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-41440-4_11

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  • DOI: https://doi.org/10.1007/978-3-642-41440-4_11

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  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-41439-8

  • Online ISBN: 978-3-642-41440-4

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