The Spirit of Capitalism – Assignment #2
In the second chapter of Weber’s book “The Spirit of Capitalism”, he uses Benjamin Franklin’s quote to set the tone of his argument and define capitalism. In the quote, capitalism is basically explained in various contexts; time is money, credit is money, money can beget money, money is earned, spent and can grow. Interestingly enough, Weber states that Franklin believed these ideals represent the spirit of capitalism and tied into the virtues of man. He goes to explain that these virtues of man such as honesty, punctuality, moral responsibility, can earn money and credit. Through his virtue and attitude, man can gain capital and increase his way into the world. Weber basically states that Franklin believed that man’s attitude and virtue was the base of capitalism and his ability to earn money.
The idea of greed and want for material things is also one of man’s virtues, according to Weber. In the true spirit of capitalism, Weber explains that man is dominated by the idea of making money and is not satisfied with the simplicity of Franklin’s version of capitalism. He goes on to mention that man’s need for economic acquisition becomes one of the major purposes of his life; not just mere virtue. In other words, man’s earning power and gain of material possessions is tied into their professional activity by any means. The way I am to understand capitalism through this reading is the way it exists today. Survival of the fittest through the power of earning capability; not through virtue or religion as in our previous readings.
When I think of this reading, it reminds me of the discussion in our last class. The question that was proposed for discussion was “If you had to choose between Happiness or Wealth, which would you choose?” In the context of this article, it seems as if the clear answer to the question would be wealth. It seems that the ultimate prize to the spirit of capitalism is individual monetary wealth. It can be argued that the access to anything in life (even virtue) would happen through the access of wealth. Is this what Weber meant when he included the idea of rationalism? In my perspective, I believe he did. I basically believe Weber stated that the world has convinced itself that wealth is the means to access the best quality life. Well, in my humble opinion, I guess this is why we may be so unhappy.
2 responses to “The Spirit of Capitalism – Assignment #2”
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You are absolutely right! That’s exactly why we are so miserable! Time is money, but money doesn’t buy my time back! We have to work, work, work! but we aren’t getting any richer!!
Good start Albert. Keep in mind the forms of self-discipline that Weber attributes to Puritans in their pursuit of capital. The virtue Weber points to is being measured in relationship to their dedication to work and decisions not to spend the money they make.