This book investigates the extent to which social values and cultural norms function as economic variables that influence organizational performance and transaction costs. Mark Casson, an economist specializing in international business and entrepreneurship, utilizes a framework rooted in institutional economics and game theory to evaluate how moral dimensions like honesty and loyalty impact market efficiency. He argues that technological advancement alone is insufficient for economic prosperity if the underlying social capital—the moral infrastructure of a society—is degraded or absent.

Experts recognize this work as a significant contribution to the intersection of cultural studies and institutional economics. Readers frequently note the academic density of the prose, which requires a foundational understanding of economic theory to fully grasp the author's arguments.