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Collectivism as an Aid or Obstacle to Economic Growth

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Culture, Growth and Economic Policy

Abstract

The present chapter analyzes a cultural dimension of particular importance, which concerns the extent that individualism and collectivism characterize every society. Collectivism can primarily be defined as a social stereotype comprising strong cohesive ties among individuals that consider themselves members of one or more groups (e.g., family, race and nation). Individuals act on the basis of the group’s norms and give priority to group goals over their own. Individualism, on the other hand, can be defined as a social stereotype in which individuals consider themselves as independent entities. These particular individuals act primarily on the basis of their own preferences, needs and goals, and the only incentive to enter into social relationships is for their own personal benefit.

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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). Collectivism as an Aid or Obstacle to Economic Growth. In: Culture, Growth and Economic Policy. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-41440-4_9

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  • DOI: https://doi.org/10.1007/978-3-642-41440-4_9

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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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