Culture, institutions, and development : new insights into an old debate

Does culture matter? This question has taken on added significance since fundamentalist revivalism has recently gained ground in different parts of the world. The old controversy between Max Weber and Karl Marx, which centres around the extent to which cultural factors such as social norms and values affect economic growth is of critical importance, particularly because of its policy implications. Indeed, if culture is not an autonomous factor susceptible to influencing economic realities, it should not matter and public authorities can dispense with thinking about cultural interventions. On t