Why are some countries rich and others poor? Why does a farmer
in Sweden have a higher standard of living than a farmer in South
Africa? Why does a schoolteacher in Switzerland earn more than one
in Chicago? According to leading economic theorist John Kay,
economic markets are key to the wealth or poverty of the world's
nations. In Culture and Prosperity, Kay explores why market
economies outperform socialist or centrally directed markets -- and
why the imposition of market institutions often fails. His search
for the truth about markets takes him from the shores of Lake
Zurich to the streets of Mumbai, through theories of evolutionary
psychology and moral philosophy to the flower market at San Remo
and Christie's salesroom in New York.
Witty, engaging, and grounded in cutting-edge economic theory,
Culture and Prosperity is essential for understanding the state of
the world today.
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