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Cultural Context Shapes Behavior
The interpretation of meanings is strongly influenced by cultural context. Statistical models may track behaviors for a while, but situations influenced by cultural beliefs can disprove theories. Impersonal mechanistic explanations in economics overlook the importance of people's meanings, stories, and self-interpretations, which are crucial in understanding human behavior. Trying to mimic natural sciences by relying solely on impersonal conditions in economics is a critical mistake as humans are cultural animals, and this approach is bound to fail eventually.