By Donald W. Katzner
There is a standard view between many economists that one version is able to explaining a selected kind of behaviour in all cultural environments. it is just essential to make acceptable changes to deliver the version in response to triumphing cultural stipulations. This booklet argues that such an process can result in errors, particularly to mistaken clarification and realizing of the phenomenon in query, and hence may end up in beside the point coverage options. Katzner’s interesting booklet compares the 2 cultures of Japan and united states and gives insights into the commercial workings and variations among the 2 countries. He indicates that an realizing of the tradition of a rustic is key to the advance of acceptable versions of financial behaviour of financial brokers in that kingdom, and that the failure to appreciate cultural changes weakens the predictive (and prescriptive) strength of monetary versions. The argument is made in a set of essays helping the next: (a) notion approaches are seriously depending on cultural environments and (b) simply because cultures differ greatly from society to society, to provide an explanation for financial behaviour in a single society may perhaps require a version with a totally diverse constitution from that during one other. The e-book applies this argument to explain sure beneficial properties of financial theorizing and to give an explanation for the so-called jap fiscal miracle.
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Extra resources for Culture and Economic Explanation: Economics in the US and Japan
The Textual Life of Savants (Chur: Harwood, 1995). 16 Introduction 9. , Economic Crises in World Agriculture (Ann Arbor: University of Michigan Press, 1965). 10. , An Inquiry into the Nature and Causes of the Wealth of Nations (New York: Random House, 1937). 11. J. S. Becker, “De Gustibus Non Est Disputandum,” American Economic Review 67 (1977), pp. 76–90. 12. , “Rational Peasants, Efﬁcient Institutions, and a Theory of Rural Organization: Methodological Remarks for Development Economics,” The Economic Theory of Agrarian Institutions, P.
47. , The Enigma of Japanese Power (London: Macmillan, 1989). Reply to Thiruvadanthai1 In his comment on my essay, “Western Economics and the Economy of Japan” (Katzner ), Thiruvadanthai  raises three issues of considerable importance for economic analysis. The ﬁrst concerns the signiﬁcance of the relationship between the cultural background of the investigators and the culture in which the object of the investigators’ analysis is set. The second has to do with the meaning of the term “rationality” or “rational behavior” as it is used in economics.
Thus the American past has left Americans with the notion that the purpose of an economy is to provide for individual material well-being, whereas Japanese (and, more generally, Asian) experience has resulted in the Japanese (Asian) belief that the purpose of the economy is to further political ends. Temin  suggests that Japanese industrial practices are partly the result of the collective orientation of its culture. 25 In spite of the foregoing, and in opposition to the argument of this essay, it should be pointed out that there are studies relying on self-interest as the primary motivating force behind Japanese action.
Culture and Economic Explanation: Economics in the US and Japan by Donald W. Katzner