SPIRIT OF CAPITALISM
According to Max Weber the spirit of capitalism is rationalization. Spirit of capitalism is methodical and calculating in the pursuit of profit. Max Weber argues that the spirit of capitalism is the drive to organize work to most efficiently achieve the goals of profit or business success. Spirit of capitalism had its origins in Protestantism.
The spirit of capitalism may increase or decrease risk aversion in stock markets, and may actually decrease the prices of risky assets. Benjamin Franklin's life shows that his attachment to capitalist values of profit accumulation was wholly pragmatic not deriving from his religious beliefs.A detailed examination of Franklin's life and works reveals a very different story.
'The Will to Act': An
Analysis of Max Weber's Conceptualisation of Social Action and Political Ethics in the
Light of Goethe's Fiction - Isher-Paul Sahni, Department of Sociology McGill
University - Sociology, Vol. 35, No. 2.
Anti-politics and the
spirit of capitalism: Dissidents, monetarists, and the Czech transition to capitalism -
Eyal G - Source: Theory and Society, Volume 29, Number 1, February 2000.