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Religion in the heart of capitalism?

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Weber argued that, in the economic development of the West, the key difference is an attitude towards the accumulation of wealth that is found nowhere else in history. He called this attitude the ‘spirit of capitalism’ – a motivating set of beliefs and values held by the first capitalist merchants and industrialists. Yet, quite unlike wealthy people elsewhere, these industrialists did not spend their accumulated riches on luxurious, materialistic lifestyles. On the contrary, many of them were frugal and self-denying, living soberly without the trappings of affluence we are used to seeing today. This very unusual combination was vital to the rapid economic development of the West. The early capitalists reinvested their wealth to promote further expansion of their enterprises, and this continual reinvestment of profits produced a cycle of investment, production, profit and reinvestment, allowing capitalism to expand quickly.

The controversial part of Weber’s theory is that the ‘spirit of capitalism’ actually had its origins in religion. The essential motivating force was provided by the impact of Protestantism and one variety in particular: Puritanism. The early capitalists were mostly Puritans and many subscribed to Calvinism. Calvinists believed that human beings are God’s instruments on Earth, required by the Almighty to work in a vocation – an occupation for the greater glory of God. They also believed in predestination, according to which only certain individuals are among the ‘elect’ and will enter heaven in the afterlife. In Calvin’s original doctrine, nothing a person does on Earth can alter whether they are one of the elect; this is predetermined by God. However, this belief was difficult to live with and produced much anxiety among followers, leading to a constant search for ‘signs’ of election to quell salvation anxiety.

People’s success when working in a vocation, indicated by their increasing prosperity, came to be seen as a sign that they were part of the elect few. Thus, a motivation towards profitability was generated as an unintended consequence of religious adherence, producing a paradoxical outcome. Puritans believed luxury to be evil, so their drive to accumulate wealth was combined with severe and unadorned personal lifestyles. This means the early capitalists were not self-conscious revolutionaries and did not set out to produce a capitalist revolution. Today, the idea of working in a calling has faded, and successful entrepreneurs have stupendous quantities of material goods and live luxurious lifestyles. In a famous passage, Weber (1992 [1904–5]: 182) says:

The Puritan wanted to work in a calling; we are forced to do so … Since asceticism undertook to remodel the world and to work out its ideals in the world, material goods have gained an increasingly and finally an inexorable power over the lives of men as at no previous period in history…. The idea of duty in one’s calling prowls about in our lives like the ghost of dead religious beliefs.

Sociology

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