Searching Reciprocity Between Economics and Culture
Vladimir Melnikov, Svetlana Nadezhdina
Contemporary economists dedicate their attention to progress, establishing the rate of economic growth – the volume of output per capita in real terms – as the primary
indicator for evaluation. To this day, the perception of culture’s economic role within the scientifi c community remains ambivalent. On the one hand, the objective
of the real economy – to improve the quality of life based on the understanding of the essence and quantitative assessments of economic processes – presupposes the
infl uence of prevalent values on the choices of economic agents. On the other hand, the values that form the foundation of culture do not infl uence events by themselves;
they operate in conjunction with formal and informal institutions and they are dependent on the preceding development path, and, fi nally, are closely intertwined with the material and technological environment of economic activity. To date, no methodological toolkit has been proposed to prove the defi nitive infl uence of culture on specifi c outcomes of economic activity. Consequently, analyzing the link between culture and economic development represents a vast fi eld of opportunity for scholars nowadays. It requires separate study of a multitude of diverse cultural practices to assess their impact on economic behavior and fi nancial outcomes. This paper proposes a set of scientifi c problems and methodological approaches for analyzing the interrelationship between economy and culture, offering broad opportunities for researchers.