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This paper explains that, in his seminal work "The Protestant Ethic and the Spirit of Capitalism," Max Weber provided a new perspective of the emergence of capitalism by asserting that what made Europe or the Occident develop into a capitalist economy was because the majority of its people observed the Protestant ethic as their way of life, rationalizing that people's everyday actions are a pre-requisite for a society to develop into a capitalist economy. The author contends that the development of capitalism in early modern Europe was the result not only of Protestantism but also of Catholicism. The paper states that the generalization that religion had become the catalyst for capitalism to flourish in the continent is supported by the fact that religious institutions before and during the onset of capitalism have dominated the socio-political realms of Western societies, leaving no doubt that they also control the economic activities and institutions present in the society.

From the Paper:

"Indeed, capitalism is "a very complex system of institutions, highly rational in character and the product of a number of developments peculiar to Western civilization." Those who are unable to adapt to these 'complex systems of institutions' and 'rational character' are bound to be left behind in the process, neither achieving development nor economic success. Moreover, those who are unable to adapt to this system are bound to maintain the "anxiety of not knowing" and "fear of damnation." Thus, in order to be included in the capitalist economic system, one has to integrate himself/herself to these complex systems of institutions through labor and attain a rational character by conducting profit-making activities. Through labor and profit-making activities, one involves in the "spirit of capitalism" and accomplishes what Weber has termed as the Protestant ethic."

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