THE REVIVAL OF CULTURAL EXPLANATION IN ECONOMICS

Cultural explanations of economic change were largely dropped for a generation, as economists rejected their inconclusiveness and other social scientists labelled them as politically incorrect. Peter Bauer, however, expressed disquiet at the way deep influences like culture were being ignored in economic analysis. This paper discusses why high‐profile attention has now turned back to culture. It does not find the expositions offered to be very persuasive but nevertheless agrees that Bauer's unease was understandable and describes other recent academic studies that are more promising.