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Why Europe and the West? Why Not China?

[Symposium: Cultural Economics]

By David S. Landes

Journal of Economic Perspectives, Spring 2006

In the history of technological development, why didn't other regions keep up with Europe? This is an important question, as one learns almost as much from failure as from success. The one civilization that was in a position to match and even anticipate t...

Does Culture Affect Economic Outcomes?

[Symposium: Cultural Economics]

By Luigi Guiso, Paola Sapienza, and Luigi Zingales

Journal of Economic Perspectives, Spring 2006

Until recently, economists have been reluctant to rely on culture as a possible determinant of economic phenomena. Much of this reluctance stems from the very notion of culture: it is so broad and the channels through which it can enter the economic disco...

Religion and Economy

[Symposium: Cultural Economics]

By Rachel M. McCleary and Robert J. Barro

Journal of Economic Perspectives, Spring 2006

Religion has a two-way interaction with political economy. With religion viewed as a dependent variable, a central question is how economic development and political institutions affect religious participation and beliefs. With religion viewed as an indep...

The Role of Family in Family Firms

[Symposium: Cultural Economics]

By Marianne Bertrand and Antoinette Schoar

Journal of Economic Perspectives, Spring 2006

History is replete with examples of spectacular ascents of family businesses. Yet there are also numerous accounts of family businesses brought down by bitter feuds among family members, disappointed expectations between generations, and tragic sagas of l...

Purple America

[Symposium: Red and Blue States]

By Stephen Ansolabehere, Jonathan Rodden, and James M. Snyder Jr.

Journal of Economic Perspectives, Spring 2006

America, we are told, is a nation divided. The cartographers who draw up the maps of U.S. election results have branded a new division in American politics: Republican red versus Democratic blue. What is the source of this division? Most observers point n...

People Flows in Globalization

By Richard B. Freeman

Journal of Economic Perspectives, Spring 2006

The policy debate over globalization in the past decade has largely bypassed the international mobility of labor. Restrict trade and cries of protectionism resound. Suggest linking labor standards to trade and it's protectionism in disguise. Limit capital...

Price Changes in the Euro Area and the United States: Some Facts from Individual Consumer Price Data

By Emmanuel Dhyne, Luis J. Alvarez, Herve Le Bihan, Giovanni Veronese, Daniel Dias, Johannes Hoffmann, Nicole Jonker, Patrick Lunnemann, Fabio Rumler, and Jouko Vilmunen

Journal of Economic Perspectives, Spring 2006

Prices of goods and services do not adjust immediately in response to changing demand and supply conditions. This paper characterizes the average frequency and size of price changes in the euro area and its member countries, investigates the determinants ...

Markets: The Fulton Fish Market

By Kathryn Graddy

Journal of Economic Perspectives, Spring 2006

The Fulton Fish Market was a colorful part of the New York City landscape that operated on Fulton Street in Manhattan for over 150 years. In 2005 the market moved from the South Street Seaport in lower Manhattan to Hunts Point in the South Bronx. The Fult...