Wednesday, 11 December 2019

On Culture and Economics

A nation’s culture and economy have a symbiotic relationship—they tend to move in the same direction. When the culture moves in the rightward direction, economy too takes a right turn (the government takes measures to liberalize the economy); when culture lurches towards the left, the economy does the same and becomes more regulated and inefficient. The periods of high economic growth in most nations are also the periods great cultural awakening, and the periods of economic downfall are usually the periods when there is decline in the peoples sense of culture and rise in nihilistic tendencies. A nation with weak culture can never attain economic success. While it is possible for a nation with strong culture to be economically backward, a strong culture is a necessary condition for a strong economic performance.

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