The elements that influence the economy of a community or country

Imprint Culture as a factor of social and economic development - the Polish experience by Karolina Tylus Karolina Tylus is Head of the Unit for European Funds at the Department of Cultural Strategy and European Affairs — Ministry of Culture, Poland Culture as a factor of social and economic development Polish experience with structural funds in the culture sector as well as the future of EU regional policy in the context of the culture sector At the present, culture is one of the most impotent factors of development. The role of culture in development should be treated as multi-layered: Culture also belongs to a fundamental reference point in relation to metropolitan functions and the significance of cities in spatial, economic and social arrangements. The purpose of this paper is an attempt to present culture as a factor of social and economic growth.

The elements that influence the economy of a community or country

This is part 4 of an exploration into why some countries are poorer than others. Discrimination Sometimes there are social or cultural factors that hold back poor countries.

Discrimination is one of these. This may be a tribe, a caste, a racial category or minority language group.

Governmental Policies

I have already mentioned Cameroon, which has both French speaking and English speaking regions. All the infrastructure happens in the French speaking part. French speakers in Canada complain of the opposite.

Welsh speakers in Britain, or Catalans in Spain, have historically faced similar problems. Racial discrimination may be an issue, excluding certain groups from economic activity, either deliberately or not. Racial minorities regularly have poorer exam results and economic prospects than the majority.

Another division may be the role of women. Jeffrey Sachs talks about this in The End of Poverty: Population Closely linked to this is the population issue. If women see staying at home and bringing up children as their chief role, they will have more children than those who work.

There is nothing wrong with having lots of children, as long as you can provide for them. What is interesting is that the countries where this has happened are often those where women do not play a role in business or society.

When women are educated and given a choice, some will stay at home and look after children, and others will pursue careers or start small businesses. This is an important factor, as some countries have seen their population double or triple without their economies keeping pace.

That leaves more mouths to feed, and just not enough to go around. This the far end of the spectrum, but culture works in subtler ways too. Some cultures believe in a greater good, in unity, in the rule of law. They are optimistic, hopeful, ambitious and ready to pull together.

Others can be paranoid, fragmented, uncertain of their place in the modern world, angry, resistant to change. Rich countries can be overconfident and brash. Poor countries can see themselves as victims and become despondent.

Hinduism was often cited as one of the reasons why India would never develop.

The elements that influence the economy of a community or country

Because everyone accepts their place in the world, it was assumed that Hindus would lack the ambition required to innovate and do business on an international stage. So did Korean culture change, or was the writer simply being superior?

We understand each other better than ever in our globalized world, but our language and traditions are still full of little prejudices that imply we are better than others, and that our neighbours are lazy and dirty and uncouth.

A Malagasy friend once joked that in Madagascar, every tribe believes that every other tribe eats cats. In short, culture no doubt plays a role in development, but we have to watch our own biases as we seek to understand why some countries succeed and others fail.Economic growth is one of the most important indicators of a healthy economy.

One of the biggest impacts of long-term growth of a country is that it has a positive impact on national income and the level of employment, which increases the standard of living. Business - Ch. 3.

STUDY. PLAY. Domestic Business.

BREAKING DOWN 'Political Economy'

The making, buying, and selling of goods and services within a country The key factors that affect a country's level of economic development. 1. literacy level - better education = better and more goods - the company obtaining the franchise will usually adapt a range of business elements.

Culture as a factor of social and economic development - the Polish experience by Karolina Tylus. which comprises one of the primary elements of preparation to life in society, plays a particular role in the development of social capital.

increasing the attractiveness of the country for . It is impossible to analyze a country's economy by taking into account only the market factors. Every economic system must be incorporated and harmonized with the continuing development of a country, a trend that reflects technological changes and innovations and, also, political conflicts that.

Social and Cultural Values. Social and cultural values affect economic development through attitude toward progress. Societies that value achievement, personal gain and accumulation of wealth and. Various economic factors need to be taken into account when determining the current and expected future value of a business or investment portfolio.

For a business, key economic factors include labor costs, interest rates, government policy, taxes and management.

5 Factors that Affect the Economic Growth of a Country