The Protestant Ethic as a General Precondition for Economic Development

In: Canadian journal of economics and political science: the journal of the Canadian Political Science Association = Revue canadienne d'économique et de science politique, Band 29, Heft 4, S. 462-474

Abstract

Problems of economic development have inevitably stimulated interest in human motivation as it pertains to economic action. In this regard, frequent allusion has been made to Max Weber's The Protestant Ethic and the Spirit of Capitalism. This paper argues that understanding of Weber's thesis concerning both the Protestant ethic and capitalism has been frequently erroneous or incomplete, and that when his thought concerning the metaphysical foundations of economic rationality is seen in an adequate context its implications for economic motivation and development problems are more important than has been generally acknowledged. More specifically, the present analysis holds that Weber's basic ideas concerning the practical economic effects of the economic actor's value orientation are valid within the framework of any given economic system.The first two sections attempt to clarify Weber's thought concerning the nature of the Protestant ethic and its relation to capitalism. The remainder of the article deals with the contemporary significance of Weber's insight for economic development in Soviet Russia and in the newly-developing countries.