In a contribution remarkable for all those interested in language and business, Victor Ginsburgh and Shlomo Weber have this year highlighted the following under the heading “The Economics of Language”.
To many languages are holding back growth and prosperity (Journal of Economic Literature 2020, 58(2), pp. 348-404.)
However, the authors do not argue that cultural linguistic diversity should therefore be assessed negatively. On the contrary, they are concerned with the value of mother tongue and precise expression.
An example from the financial sector: according to the studies quoted in the article, Finnish investors tend to invest in companies that organise their corporate communications in Finnish. Especially for investors who invest in unfamiliar sectors, the language of the company plays a crucial role. The same applies to other contexts.
Language, especially mother tongue, creates proximity and makes joint business more likely.
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