The Protestant Ethic and the Spirit of Capitalism I. Points covered in this lecture: - “Capitalism”: what is it? - The “spirit” of capitalism - Economic.

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Presentation transcript:

The Protestant Ethic and the Spirit of Capitalism I. Points covered in this lecture: - “Capitalism”: what is it? - The “spirit” of capitalism - Economic “traditionalism” - Protestantism and capitalism II. Summarizing

What is ‘Capitalism’? Profit-seekingGreedMoney-making (Weber’s examples, pp. 20-1)

The Spirit of Modern Capitalism I 1) Nations: Endless economic growth 2) Individuals: Desire to become ever richer 3) Dedication to work

The Spirit of Modern Capitalism II Acquisition of money is: a) a ‘duty’ (Benjamin Franklin) b) an ‘end in itself’ (don’t squander money in consumption – ‘asceticism’) c) the ‘purpose of life’ and a ‘systematic’ pursuit (Weber, pp ).

The Spirit of Modern Capitalism III ‘[W]e provisionally employ the phrase spirit of modern capitalism to refer to the particular frame of mind that … strives systematically and rationally in a calling for legitimate profit’ (ibid., p. 27).

Economic Traditionalism I Workers: ‘With a maximum of ease and a minimum of effort, how is the customary wage to be maintained?’ ‘Traditional needs’

Economic Traditionalism II Traditionalism amongst workers (pp. 22-5) Traditionalism amongst capitalists (pp. 26-9)

Whence the Spirit of Capitalism? Protestant Belief: 1) ‘Calling’ (Martin Luther, ) (‘This-worldly’ vs. ‘other-worldly’ work) 2) Predestination (John Calvin, )

The Legacy of Protestantism The ‘steel-hard casing’ (‘iron cage’) – capitalism without religious girding (pp )

Weber contra Marx? Marx’s ‘Preface’ (1859): ‘It is not the consciousness of men that determines their existence, but their social existence that determines their consciousness’. Weber (p. 19):(religious) ideas determine economic development (?)

Wood and Weber Points of agreement: a) Historical discontinuity (modern capitalism vs. previous types of ‘capitalism’ and non-capitalist societies) b) Origin and spread of capitalism are distinct

Wood and Weber (cont.) Points of disagreement: a) Location of capitalism’s origin b) Social class associated with the rise of capitalism (partial agreement: which class was not heavily involved) c) Role of (religious) ideas in development of capitalism

Critique of Weber 1) Evidence I (Franklin) 2) Evidence II (Protestant theologians and ministers) 3) Evidence III (signs of salvation) 4) Relationship between Protestantism and capitalism

Word list p. 14: beget; p. 15: catechism p. 16: avarice; proclivities; utilitarian p. 18: bland;p. 25: ostracism p. 33: turpitude;p. 31: harried p. 56: synod;p. 57: wrath