The deep historical roots of modern culture: A comparative perspective |
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| Institution: | 1. European Bank for Reconstruction and Development London, United Kingdom;2. Centre for Economic Policy Research (CEPR), London EC1V 0DX, United Kingdom;1. Department of Economics, College of Economics, Jinan University, Address no. 601, Huangpu Street West, Guangzhou, China;2. Queen Mary University of London, Mile End Road, E1 4NS, London, United Kingdom;1. University of Bayreuth, Germany and CREMA – Center for Research in Economics, Management, and the Arts, Switzerland;2. Indiana University, USA;3. Federal Department of Economic Affairs, Education and Research, Agroscope, Switzerland and CREMA – Center for Research in Economics, Management, and the Arts, Switzerland |
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| Abstract: | This paper presents evidence showing that there have been since antiquity two opposed types of institutional systems: one resembling central planning and present in ancient China, ancient Egypt, the Inca Empire and other territorial states, and another one with strong market institutions, protection of property rights present mostly in city-states, not just in the Mediterranean but throughout the world. Evidence is presented that these institutional differences dating back to the antiquity are shaped by special geographical conditions. These institutional differences can be seen to be at the root of the two cultural systems in today's world: individualism and collectivism. These cultural differences have effects on economic performance and institutions in today's world. |
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