Features
- Cover Type: Paperback with 480 pages
- Published by: Free Press; 1st Free Press Pbk. Ed edition June 18, 1996
- Written in: English
- ISBN 10 Number: 0684825252
- ISBN 13 Number: 978-0684825250
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Book Dimensions:
9.1 x 6.1 x 1.2 inches
- Weighs: 1.2 pounds
Reader Reviews
This book argues that economic development is 80% good economics and 20% good culture. This is not a new concept, as many other authors, such as Lawrence Harrison, have grappled with the issue of culture in economic development. Fukuyama slices culture and focuses particularly on the issue of trust, as the bond that reduces transactions costs. The literature on transactions costs is also vast, initiated by Coase in the 1930s. The main contribution of this book is to establish an empirical link between trust and the reduction of transactions costs which consequently account for a more friction-less economy. However, as a non-economist, Fukuyama writes to the international relations and political science professional, as a respected scholar mainly in these circles. As such, he does a good job of bringing somewhat theoretical economic concepts to the forefront of policy makers.
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