This study aims to theoretically examine the socio-cultural factors influencing economic development and to identify their specific roles in the development process. Socio-cultural elements such as the rule of law and public order, the security of individuals and property, integrity and transparency in governance, traditions, rationality, and irrational customs are identified as critical components affecting economic progress. In countries where legal systems ensure the safety of citizens and property, trust in the state tends to be higher, which in turn motivates individuals to be more productive. This correlation is particularly evident in developed countries. Conversely, underdeveloped countries often experience lower levels of personal and property security, which negatively impacts their economic growth. Moreover, the persistence of irrational and conservative behaviors leads to societal stagnation and the emergence of a fatalistic mindset. The study concludes that such fatalism, prevalent in underdeveloped nations, poses a significant barrier to economic development.