Cultural Models of International Borrowing

Article type: Research Article

Authors: Maruyama, Magoroh

Affiliations: School of International Politics, Economics and Business, Aoyama Gakuin University, Shibuya 4-4-25, Shibuya-ku, Tokyo 150, Japan

Abstract: International insolvency has reached a very serious level not only for developing countries but also for the financial institutions in creditor countries. We must realize that two basic assumptions of economics do not hold in some of the countries. They are: (1) investment for return; and (2) money as a universal instrument of transactions. Instead of them, other cultural principles are at work which are amplified and maintained by causal loops long after their historical origins have disappeared.

Keywords: Extractionism, dependism, sharism, manufacturism, technology transfer, management transfer, productivity transfer, international debt

DOI: 10.3233/HSM-1989-8305

Journal: Human Systems Management, vol. 8, no. 3, pp. 213-216, 1989