1. Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations Karl Marx and Friedrich Engels, The Communist Manifesto Max Weber, The Protestant Ethic and the Spirit of Capitalism

2. Adam Smith Karl Marx Fredrich Engels Max Weber

3. I. Pre-modern world: 1250-1350 II. Modern World: 1450-1918 (continues) 1450-1650: expansion 1650-1750: consolidation 1750-1815: expansion Adam Smith: (1723-1790), (WON: 1766, pub in 1776) 1815-1848: consolidation Karl Marx (1818-1883), Friedrich Engels (1820-1895) (CM, pub in 1848) 1848-1873: expansion (Mid-Vic) Max Weber, (1864-1920) 1873-1896: slow growth/contraction 1896-1914: expansion (belle époqué) PESC pub in 1904,1905

4. Adam Smith Productive labor as the source of the wealth of a nation Division of labor improves efficiency and indicates progress Natural order of tings (agriculture-manufacture-trade) Good government makes pursuit of private interests possible Invisible hand ensures order and peace

5. Marx and Engels Political intervention on the side of socialism in 1848 (anti-liberal, anti-national) Material basis of society Class struggle as the engine of history Under capitalism –Bourgeoisie grows and revolutionizes the means of production –In doing so, it creates its own antagonist-the proletariat (its grave digger) Historical necessity of socialism and communism

6. Max Weber An inquiry into the distinguishing characteristics of western civilization In modern industrial world hard work is seen as something that carries its own intrinsic reward Natural tendency of human beings is toward laziness Change is possible only through the development of a way of life common to everybody (spirit of capitalism)

7. Weber finds the origins of this common way of life in the religious ideas of reformation (Calvinism) in Europe Each individual’s state of grace was determined by God’s choice from the creation of the world and for all times Each individual is duty-bound to consider himself chosen and to reject all doubt as temptation of the devil. Self confidence is a sign of faith and unceasing work improves self-confidence