"The Protestant Ethic and the Spirit of Capitalism"

Paper Summary:

This paper explains that Weber believed that the way of life for Protestants, specifically Calvinism, encouraged the development of western capitalism, which he defined as the pursuit of profit and forever renewed profit. The author points out that Weber identifies two main characteristics of Protestant belief, which encourage the development of Western capitalism: predestination and worldly asceticism. The paper states that Weber indicates that such beliefs create a psychological state of mind, which pressures the Calvinists to lead a successful life, defined in terms of money. The paper relates that some critics argue that it was not religion, which encouraged the development of Western capitalism, but the social exclusion of Protestants from professions; therefore, business offers the Protestants a channel to overcome their persecution. The paper includes quotations.

From the Paper:

"Weber found "Occidental" capitalism to be different from the "other" forms in many respects. Firstly, there was a lack of free labor in the "others" system. Secondly, household work and business work were not separated, as in the west. Personnel property was kept apart from corporate property, rational book-keeping techniques were used, and a rational legal and administrative system existed, which Weber believed played a role to limit speculative and opportunistic capitalism. Finally, Weber also acknowledged the role of technical advancement in playing its part to encourage the development of Occidental capitalism."

Sample of Sources Used:

• Weber, Max. The Protestant Ethic and the Spirit of Capitalism. Routlage Classics, Routlage Reprinted 2001.

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