Essay about Analysis of Max Webers Theory of Capitalism

Analysis of Max Webers Theory of Capitalism Max Weber’s original theory on the rise of Capitalism in Western Europe has been an often studied theory. In its relationship to Protestantism, specifically Calvinism, Weber’s theory has been in scholarly debate since it’s release in 1904. â€Å"The Protestant Ethic and the Spirit of Capitalism† puts forth not capitalism as an institute, but as the precursor to the historical origins of capitalism. Weber’s attempts to use statistical data, as well as church doctrine to prove his theory, has been the foundation for the main arena of debate amongst his peers. Weber, although touching on other religions and countries, specifically focuses on the Reformation and its correlation to the dominance†¦show more content†¦Fanfani believes this discredits the influential aspects of religion on capitalism, and instead credits â€Å"that general revolution of thought that characterizes the period of the Renaissance and the Reformation, by which in art, philosophy, morals, and economy, the individual emancipates†¦himself from the bonds imposed on him during the Middle Ages(2).† Arguments could be made on Weber’s behalf that it was the Reformation that ‘emancipated’ Protestants from the bonds of Catholic ritual. The removal of the Catholic priest necessitated Protestants to acquire a higher degree of learning for their own salvation. An education combined with divine sanction towards profit and a sinful attitude towards idleness would only lead towards a diligent work ethic. It can be inferred, in this rebutt al, that the Reformation may have been a guiding factor in the Renaissance and therefore Fanfani’s argument would be inclusive of Weber’s theory. The argument that capitalism existed before the Reformation is valid, but Fanfani is discussing it as a definition where as Weber discusses it as driving force. Weber’s thoughts, that rationality being a basis for capitalism, inspired him to use several quotes from Ben Franklin early in his work. In where, even before there was a strong capitalistic foundation formed in the colonies, Weber foundShow MoreRelatedMarx s Theory Of Historical Materialism1495 Words   |  6 PagesCapitalism is an economic system in a society in which private owners control industry and trade within a country, rather than the state. Both Karl Marx and Max Weber, have written theories on how this system develops in countries and creates a nation state that is characterised by production and wealth. 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