'The spirit of capitalism' and long-run growth
Heng-Fu Zou ()
No 94, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics
In this paper, we will show that the capitalist-spirit approach to economic growth has been developed by Adam Smith, Karl Marx, Max Weber and John Maynard Keynes and many others. It can be demonstrated that countries with different degree of the capitalist spirit will have different per capita consumption, per capita capital stock and different endogenous growth rates in the long run. This capitalist spirit model is also widely supported by many empirical and historical studies on cultural attributes and economic development.
Keywords: Spirit of capitalism; Endogenous growth; Savings; Frugality; Culture (search for similar items in EconPapers)
JEL-codes: B10 B20 O10 O40 P10 (search for similar items in EconPapers)
Pages: 15 pages
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16) Track citations by RSS feed
Published in European Journal of Political Economy, Volume 10, Issue 2, July 1994, Pages 279-293
Downloads: (external link)
Journal Article: 'The spirit of capitalism' and long-run growth (1994)
Working Paper: The spirit of capitalism and long-run growth (1991)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:94
Access Statistics for this paper
More papers in CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics Contact information at EDIRC.
Bibliographic data for series maintained by Qiang Gao ().