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by rebeca stegaru1 view·Updated Jan 7, 2021
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  1. Hello. My name is Irina.
  2. And today I'm going to talk to you about on
  3. article that I read in The Economist Economist is and
  4. newspaper slash magazine.
  5. The focus is on economy, society and culture.
  6. The article that I'm going to talk to you about
  7. is called Economists are turning to culture to explain wealth
  8. and poverty.
  9. Uh, this article is quite a recent one.
  10. It was written on September 2019, and it has quite
  11. a self explanatory, um, title as well.
  12. The first information that the article gives us is, um
  13. uh, when the economy is a discipline begin, which is
  14. 3/18 century on.
  15. After that, it gives us a bit of a round
  16. down off the theories that were formed at the time.
  17. So the first theory is from Adam Smith, which wrote
  18. the out off the wealth of the nations in which
  19. he, uh, theorize that preferences, norms and values of our
  20. culture is what makes or breaks, uh, economy system and
  21. is capitalist system.
  22. The secondary is from Karl Marx, in which, if, uh,
  23. consideration the Asian cultures and, uh, honest why the capitalism
  24. has not yet reason in these cultures.
  25. He called the phenomenon Oriental Despotism and the third and
  26. Final theory was from Max Weber and where he family
  27. believed that the first one was, uh, the first ones
  28. to you utilize, uh, capitalism were protesting specifically Calvinism Calvinists.
  29. Because of their work ethic, these three theories were quickly
  30. debunked in the 20th century because off the growth in
  31. economy from Japan and China and many other Asian countries,
  32. as well as a I diluted kind of ways to
  33. send their desires economy, society and twan elicit as well.
  34. Uh, the article then for focuses on another, another theory
  35. from Putnam, in which he took into consideration Italy as
  36. a a saw phenomenon, the North and the south of
  37. Italy and their differences.
  38. Putnam recognized that in the south of Italy, uh, the
  39. poor part of Italy, the family had a great attachment
  40. of great importance.
  41. While in the north of Italy there were much more
  42. participation and on in a society and cultural clubs, uh,
  43. then south of Italy that that's a phenomenon that platinum
  44. called social capital, um, in which uterus?
  45. That thesis a society and the relationship that in a
  46. certain place determines the growth off the economy as well.
  47. The article does not gives us, um, a strict conclusion.
  48. It leaves us open for interpretation.
  49. The obsessional with culture to explain economy is still a
  50. really open question to anyone who wants to participate.
  51. And that's why it's just This article is well, because
  52. a ZX we saw this year it was really difficult.
  53. There were many.
  54. There were many things that people couldn't do, and there
  55. were social distance.
  56. What does that mean for economic growth has through these
  57. diaries baptized.
  58. So I just this article Because, in my opinion, the
  59. economy waas is really on the edge of a crisis
  60. because social distancing as well as culture is not.
  61. It's not actively, it's not active is not actively taking
  62. place. We're not participating in social social activities, so that's
  63. why the economy is what it is right now.
  64. That was my opinion, but thanks for your attention.
  65. Help You have a great day