"Friedrich August Hayek, the Austrian-born philosopher and economist best known for his defence of classical liberalism, seemed to think it did, claiming that market economy inevitably required cultural underpinnings in the form of a set of “modern” values based on individualism. It’s a view echoed by American political scientistYoshihiro Francis Fukuyama for whom modernization, westernization, and democratization are all part of a single, unilinear process that will conclude when other cultures essentially ape the West. As opposed to this are the theories of cultural variation, which assert that there are different roads to modernization and different conclusions to the process of modernization." More here.
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