The Economics of Business Culture: Game Theory, Transaction Costs, and Economic Performance

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Clarendon Press, 1994 - Business & Economics - 286 pages
Mark Casson demonstrates how the economic effects of cultureDSsocial values such as honesty, dedication, and loyaltyDScan be analysed in a rigorous fashion. The author argues that gains from technology in modern society can be offset by high costs stemming from the missing moral dimension whichhas implications for economic competitiveness and for social and economic institutions. A strong culture reduces transaction costs and enhances performanceDSthe success of an economy thus depends on the quality of its culture.
 

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Contents

Why Culture Really Matters
3
How Leaders Inspire Achievement
29
How Culture Sustains Trade
55
The Causes of Catastrophe
82
Promoting Participation
100
Reciprocity and Revenge
116
Team Spirit
133
The MiddleClass Middlemen
148
2
206
Collusion as Moral Crusade
213
1
225
Business Culture
237
Policy Implications
243
Summary and Conclusions
255
Notation
264
Index
277

Intimate Relations in Small Groups
169
From Freeriding to Philanthropy
189
Distribution and Justice
201

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About the author (1994)

Mark Casson is at University of Reading.

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