Single Idea 20717

[catalogued under 24. Political Theory / D. Ideologies / 11. Capitalism]

Full Idea

Unlimited greed for gain is not in the least identical with capitalism, and is still less in its spirit. Capitalism may even be identical with the restraint, or at least a rational tempering, of this irrational impulse.

Gist of Idea

Capitalism is not unlimited greed, and may even be opposed to greed


Max Weber (The Protestant Ethic and the Spirit of Capitalism [1904], Author's Intro)

Book Reference

Weber,Max: 'Protestant Ethic and Spirit of Capitalism' [Routledge 2001], p.-12

A Reaction

The point is that profits have to be re-invested, rather than spent on pleasure. If we are stuck with capitalism we need a theory of Ethical Capitalism.