Single Idea 20722

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

Full Idea

If people are acquisitive but consumption is limited, the inevitable result is the accumulation of capital through the compulsion to save. The restraints on consumption naturally served to increase wealth by enabling the productive investment of capital.

Gist of Idea

Acquisition and low consumption lead to saving, investment, and increased wealth


Max Weber (The Protestant Ethic and the Spirit of Capitalism [1904], 5)

Book Reference

Weber,Max: 'Protestant Ethic and Spirit of Capitalism' [Routledge 2001], p.116

A Reaction

[compressed. He also quotes John Wesley saying this] In a nutshell, this is how the protestant ethic (esp. if puritan) drives capitalism. It also needs everyone to have a 'calling', and a rebellion against monasticism in favour of worldly work.