Max Weber (1864 – 1920) was a left-wing liberal German political economist and sociologist. He despised the nobility and the seeking of power for its own ends.
He studied capitalism in general and the part of religion in particular.
Rise of Capitalism
Some religions enable the march of capitalism, whilst others, such as Hinduism and Confucianism, do not. A key trigger in the Reformation was the removal of simple guarantees of being saved through belief, which led people to seek other routes to salvation.
• Protestant work ethic
Weber coined the term 'Protestant work ethic' to describe a dedication to simplicity and hard work that the Protestant branches of the Christian church espoused.
The paradox of the Protestant work ethic was that whilst hard work led to commercial success, it was a sin (particularly in Calvinism) to spend the money on oneself or religious icons (Protestant churches are very simple, unlike Catholic ones). The way out was investment, which simply led to even more commercial success.
Mass-production also supported Protestant ideas of equality and countered individualism.
Commercial success and personal simplicity was seen as a particular demonstration of piety. If you can be rich yet resist the easy temptation it brings, then surely you will get into heaven.
• The evolution of capitalism
In this way, modern capitalism actually grew from religious seeking of wealth as a symbol of work.
Over time in Western society the temptations of spending money on oneself increased and perhaps led to the decline in the religious element. Capitalism was thus established as a 'religion' of its own.
• Capitalism unfettered
Weber described the spirit of capitalism as the ideas and habits that support the rational pursuit of economic gain.
Without the restraints of religion, greed and laziness lead to making the maximum amount of money for the minimum effort.
Where Capitalism is Not
Weber noted