Hedonistic culture and global crisis

TERRA ECONOMICUS, , Vol. 12 (no. 1),
p. 28-40

The goal of the paper is to analyze the role of economic culture as a factor of global crisis. Author shows that contemporary capitalism’s culture should be defined as a hedonistic culture, and such one may lead to the crisis tendencies. The point is that hedonistic culture promotes financial fragility, distorts valuation of future time – in particular, stimulates investor myopia – and generates rising opportunism.

Keywords: economic culture; hedonistic culture; global crisis; financial fragility; investor myopia; opportunism

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606