The production process had to be rationally organised in other words, efficiency and discipline were essential. Capitalism is an economic system which aims at the unlimited accumulation of profit through the rational organisation of production.Ĭapitalism arose in the western nations like England and Germany, which experienced what we call the “Industrial Revolution.” The growth of the factory system, new techniques of production, new tools and machines made it possible for the capitalists or the owners to earn vast amounts of money. The thirst for money-making for its own sake is the very essence of modern capitalism. They wanted it so that they could use it to make more wealth. He distinguishes between traditional or adventurist capitalism of former times and rational capitalism of modern times.Īccording to Weber, the capitalists desired wealth not for enjoyment or luxurious living. It is this rational capitalism that Weber wanted to study. But never before in human history did the desire for wealth assume the organised and disciplined form that it did in modern or rational capitalism. Wealth has long been regarded as a symbol of power, status and prestige. The desire for wealth or profit is as old as human history. However it is the inter-relationship and interdependence of “ideational” and “material” factors in history.Īs far as capitalism is concerned Weber says it is a huge historical movement in a specific geographical and cultural area.
In order to bring out this inter-relationship, Weber constructed ideal types of both, the protestant ethics and the spirit of capitalism. Weber argued that the protestant ethic is closely associated with the spirit of capitalism. Western capitalism according to weber, assumed its shape because it was supported by a certain belief system, namely the “protestant ethic”. Weber located a positive relationship between the protestant ethics and the spirit of capitalism. Relevance: Sociology: Paper I: Sociological Thinkers: Max Weber: Protestant Ethic and the Spirit of capitalism
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