Development of modern capitalism from "summary" of The Protestant Ethic and the Spirit of Capitalism by Max Weber
The development of modern capitalism can be traced back to a number of factors that have shaped the economic landscape of Western society. One key influence that has been identified is the Protestant Ethic, which emphasizes the virtues of hard work, frugality, and discipline. This work ethic, according to Weber, played a crucial role in the rise of capitalism as it encouraged individuals to pursue economic success through diligence and perseverance. The Protestant Ethic, particularly as espoused by Calvinism, promoted the idea that material wealth was a sign of God's favor, leading individuals to strive for financial success as a means of demonstrating their faith.
Weber argues that this mindset laid the foundation for the development of modern capitalism by instilling a sense of purpose and motivation in individuals that drove them to work diligently and accumulate wealth. This ethos, he suggests, created a culture that valued ...
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