more on this theme | more from this thinker
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
Source
Max Weber (The Protestant Ethic and the Spirit of Capitalism [1904], Author's Intro)
Book Ref
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.
20719 | Punish the heretic, but be indulgent to the sinner [Weber] |
20725 | The idea of duty in one's calling haunts us, like a lost religion [Weber] |
20722 | Acquisition and low consumption lead to saving, investment, and increased wealth [Weber] |
20724 | When asceticism emerged from the monasteries, it helped to drive the modern economy [Weber] |
20717 | Capitalism is not unlimited greed, and may even be opposed to greed [Weber] |
20718 | Modern western capitalism has free labour, business separate from household, and book-keeping [Weber] |