Influence of Calvinism on capitalism from "summary" of The Protestant Ethic and the Spirit of Capitalism by Max Weber
Max Weber argues that Calvinism played a significant role in shaping the development of capitalism in Western societies. Calvinism, a branch of Protestantism, emphasized the idea of predestination, which posited that God had already predetermined who would be saved and who would be damned. This belief had profound implications for the behavior of Calvinist adherents, as they sought to demonstrate their salvation through their actions in the world. The doctrine of predestination created a sense of anxiety among Calvinists, as they were unsure of their own salvation. In response to this uncertainty, Calvinists engaged in a form of asceticism, or self-discipline, in their daily lives. They viewed worldly success as a sign of God's favor, and thus, they worked diligently and accumulated wealth as a means of proving their election. Weber argues that this intense work ethic and focus on material success were instrumental in the development of capitalism. Calvinists viewed labor as a calling from God and believed that they were serving Him through their work. This attitude towards work led to the rationalization of economic activity and the accumulation of capital, both of which are essential components of capitalist societies. Furthermore, Calvinists practiced a form of frugality and reinvested their profits back into their businesses, contributing to the growth of the economy. This spirit of capitalism, grounded in the Protestant work ethic, fostered innovation, entrepreneurship, and economic growth in Western societies.- Weber suggests that the influence of Calvinism on capitalism was profound. The values and beliefs of Calvinist adherents, particularly their emphasis on hard work, thrift, and asceticism, helped to shape the economic structures and practices that are characteristic of capitalist societies. The Protestant ethic, with its focus on worldly success and economic prosperity, played a crucial role in the development of modern capitalism.
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