Indian Culture and Economic Development
Which factors determine country’s economic development? Development scholars have looked into this question for more than a century and they came up with different explanations like the theory of colonial victimization, dependency theory, geography and climate, institutions, culture etc. Out of these explanations the cultural explanation is fundamental. I strongly think that culture is the most important factor influencing the process of economic development of any country. I also strongly think that the twin process of biological and cultural evolution together, the gene-culture evolution, ultimately determines whether a country is going to develop or not. This is because human beings are a product of both biological and cultural evolution. Not going into the contentious issue of genetic basis of culture and economic development, here I just want to focus on cultural factors as a determining force behind economic development. I was recently reading an article b...