Culture and Economic Systems

Frederic L. Pryor

American Journal of Economics and Sociology, 2007, vol. 66, issue 4, pages 817-855

Abstract: Applying a cluster analysis to the results of the World Value Study, this article shows that the OECD nations have five distinct patterns of cultural characteristics. Moreover, these five cultural systems are almost the same as a classification of economic systems that have been derived from a cluster analysis of their economic institutions. A comparison of the cultural characteristics of East and West Germany suggests that the economic system has relatively little influence on the cultural systems. Instead, in a democracy, where the economic system is not imposed by force, the cultural characteristics are more likely to determine the economic system, rather than the reverse. Copyright 2007 American Journal of Economics and Sociology, Inc..

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