Culture+Econ
The East Asian Model is a development strategy prominent in (if it wasn’t already obvious) East Asian countries like Japan, South Korea, and Taiwan. It's often tied to what people used to call the “East Asian Miracle,” a period of rapid growth that transformed these countries into
Culture+Econ
As one of the most populous nations in the world, Bangladesh has historically faced great development obstacles. Recently, in Bangladesh, microfinance has emerged as a pivotal strategy for poverty alleviation, particularly in developing areas. Microfinance Institutions (MFIs) offer several financial products and services tailored for the poor and disadvantaged, who
Culture+Econ
I just wrapped up reading The God of Small Things, by Arundhati Roy--a novel rooted in generational trauma and India's caste system. The novel explores "Love Laws," or societal restrictions determining who can love who, and how they can love them. Ammu, the mother of Estha
Culture+Econ
While I mainly wrote this post to ground my own understanding of China, I thought it would be helpful to share a snapshot of the Chinese economy in the last 2-3 years. I'm touching on economic indicators, cultural indicators, and overarching economic trends. Historical & Structural Background * In
Culture+Econ
Guanxi- social networks and business connections on the political, familial, and social levels (a characteristic of collectivist societies). In Chinese, guanxi literally means “gate” and “connect to.” Figuratively, it is a gateway to social and economic order and success. Guanxi originated from Confucianist ideals almost 5,000 years ago. It
Culture+Econ
Confucianism is a system of social philosophies built on the values of traditional Chinese society. It was founded by Master Kong (Confucius) in an attempt to revive and improve the flawed religious structure that was prevalent during the Zhou Dynasty. It is a risk to declare that Confucianism is a
Culture+Econ
As a vast, culturally rich region, East Asia has many cases that demonstrate the intersection between culture and consumer behavior. An interesting consumer trend that most do not attribute to culture is East Asians' affinity to luxury products and designer brands. Whether these items are directly bought from designer
Culture+Econ
As described in my previous post, due to culture’s ubiquitous nature, economists found it difficult to formulate clear hypotheses regarding the intersection of culture and the economy. Even prescribing a more specific definition (culture = the values that ethnic, religious, and social groups traditionally pursue), the boundaries seem endless. We
Culture+Econ
Before diving into the intersection of culture and economics, we must understand the term 'culture' alone. I've been independently studying culture and its development for nearly 4 years, and when tasked with defining it, even I struggled to come up with "the right answer."