Table of Contents

Culture and Economic Action

Culture and Economic Action

New Thinking in Political Economy series

Edited by Laura E. Grube and Virgil Henry Storr

This edited volume, a collection of both theoretical essays and empirical studies, presents an Austrian economics perspective on the role of culture in economic action. The authors illustrate that culture cannot be separated from economic action, but that it is in fact part of all decision-making.

Chapter 11: Weber’s spirit of capitalism and the Bahamas’ Junkanoo ethic

Virgil Henry Storr

Subjects: development studies, development economics, economics and finance, austrian economics, development economics


The Protestant ethic, which according to Weber contributed to economic development in the West, is only one of a variety of work ethics that can be identified and studied. In the Bahamas, for instance, a definite Junkanoo ethic colors economic life. Junkanoo is a semi-annual carnival-like festival that is the quintessential Bahamian cultural experience. This chapter argues that Weber’s Protestant ethic can serve as a model for telling culturally aware economic narratives and uses Weber’s approach to discuss the role that the Junkanoo ethic has played in the economic success of the Bahamas (the richest country in the West Indies).

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