Question
The following examples of cultural differences are cited in Mankiw's Chapter 9 on the roles of technology, empirics and policy in economic growth. For each,
The following examples of cultural differences are cited in Mankiw's Chapter 9 on the roles of technology, empirics and policy in economic growth. For each, briefly explain how that cultural difference could affect living standards in a Solow growth model, and whether that would primarily impact levels of GDP/capita or growth rates of GDP/capita.
(a) Differences in the treatment of women, particularly in terms of education and labor market opportunities.
(b)Differences in how many children to have and how much to educate children.
(c) Differences in how open a society is to new ideas, especially to those from abroad.
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