Challenging the long-held belief that economics is a discipline that can be adequately pursued in isolation from the other social sciences, this book develops a new theoretical approach to entrepreneurship in the firm. Casson argues that the productivity of economic units-whether families, firms, or nation states-is affected by the degree of cooperation between the members of these units, which cannot be fully understood unless one considers cultural dynamics. The book combines economic and cultural determinants of performance into a single analytical framework, applying theory to a wide range of topical issues that will be of major interest to policymakers and strategists. The book's international perspective highlights the way in which cultural differences influence innovation and competitiveness at both the corporate and national level.
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Mark Casson demonstrates how the economic effects of culture-social values such as honesty, dedication, and loyalty-can be analysed in a rigorous fashion. He argues that gains from technology in modern society can be offset by high costs stemming from the missing moral dimension which has implications for economic competitiveness and for social and economic institutions. A strong culture reduced transaction costs and enhances performance-the success of an economy thus depends on the quality of its culture.
I was glad to come across a book which moves away from inconclusive numerical comparisons and sheds some light on why even someone who welcomed the 1980s emphasis on competition and deregulation should still feel uneasy about some of the culturual aspects of the Thatcher revolution, including those that live on under the Major government. (Samuel Brittan, Financial Times)
tightly argued and wide ranging book (Business History)
stimulating book (Business Economist)
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