5 Assignment 02

In the Reading “The Protestant Ethic and The Spirit of Capitalism” By Max weber describe what he thinks about Benjamin Franklin Spirit of Capitalism subject.

Rationalism – replacement of traditions, values, and emotions as motivators for behavior in society with rational, calculated ones

Benjamin Franklin Illustrates the spirit of Capitalism by saying men have to be honest and have a business attitude. Your time is valuable, the trust and respect you show with the community gives you credit which is valuable and this personality can have you creating more money. This individual with these particular traits are seen as success which is the ultimate goal creating a profit, a capitalist, creating the Spirit of capitalism. Individuals with this personality enjoy living comfortable lives sometimes in luxury of objects but primarily like saving money and putting it away.

In the Capitalist community is just like the jungle or New York City only the strongest survive.

Traditionalism is the opposite of capitalism or pre-capitalism. Citizen will only work enough to receive the money needed to support themselves and family. This happens by paying by the amount of work given. When the opposite happens, less pay for amount of work, it can work but with limit because the wage can become so low its insufficient to support themselves and family. For this method to function for capitalism citizens must seek education. The enterpriser has the mind and spirit of a capitalism and perfumes capitalist activities. Before the organization of rational capitalism and the spirit of capitalism were represented by simple living, socialization and work somehow were changed by a more frugal living, different maneuvering of social life and a more determined work determinable created what we know as corporate America today. Profit and power is what in the world we live in today is the dominant way, the capitalistic way. I believe the spirit of capitalist transformed to adaptation of capitalism.

Weber attempts to explain himself by quoting Benjamin franklin and giving examples the support his point of view and this really gives one perspective on the matter. In my opinion, it does not have to involve religion or belief the way an individual handles or administrates his money or views money. We learn the dominant way of money and this system of capitalism is the dominant. It was not a spirit but an adaptation and evolution of time that influenced the capitalist behavior.

In The Protestant Ethic and the Spirit of Capitalism by Max Weber, he states the lines written by Benjamin Franklin to explain the connection Weber is underlining between rationalism and the spirit of capitalism which are the following “Remember, that time is money. He that can earn ten shillings a day by his labor, and goes abroad, or sits idle, one-half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent, or rather thrown away, five shillings besides” (Weber14).
Till today I would always listen to people say “Time is money” and never pay any mind to where the term came from or who it came or even the history behind it all, until today when doing the readings. Franklin was trying to motivate and explain to the people that our time was value and we should not waste any in minor things that will not give us wealth. Our time is valuable, and the time we do spend working we should think twice before spending it all at once. One should remember the hours spent earning the money and wasted only to reproduced.

I view Webber and capitalism as Benjamins influenced him believes of capitalism and start to use that at his methods in which one should follow to be successful in your life and wealth. He believes one should use his money and reinvest. He became aware of the concept and method before it was implemented in America. He believes that the time we have is used to earned money and the money we gain should be reinvested in capitalism. Weber goes on to describe the ethics one should have to succeed. One should pay its credit on time and be honest the way he will benefit from doing so. That is how one was able to build on his wealth and gain other trust and grew his wealth.

Weber explains how man are driven by the idea of power and wealth, which is very similar to today’s world. Many of us have to choice between our driven career or making better money. We spend more time working than actually enjoying the fruits of our labor. Webber believes that money and wealth will give you all you need, which in reality I think otherwise based on personal experiences in my life.

In Chapter two “The Spirit of Capitalism”, by Weber, he explains to the connection between the spirit of capitalism and rationalism, and he uses Benjamin Franklin’s quote to explain capitalism. He says, “time is money and credit is money”. He believes that a man should be punctual with everything that he does. Franklin says, “Honesty is useful because it assures credit, punctuality” (pg.17) He believes people would benefit from doing things on time and that anything outside of it would be a waste. He thinks it would take the people to a path of “righteousness” and it encourages them to work together and inspire each other; Its good for the society. As long a a man earns money and does it the right way everyone would benefit from it. Weber on the other hand says that a capitalist economy depends of the workers and their productivity, there has to be a increase int he work. People are selfish and greedy, capitalism is a business about making money, we exchange work for money.  Its like now we get paid and we are forced to work because we cant make out own products.

Franklin believes in the “spirit of capitalism” and he thinks its the right way to go because it balances everything. I agree with Franklin’s statement, but then again I don’t.”Time is money” applies to a capitalist society, because its such a crucial thing for the market. I think sometimes people are stuck with jobs they hate, the world is just all about money. Anything can be expressed in time, the more hours you work the more you earn, right?  I can give up my time for money but money wont buy me any time back. I am still slightly unsure of what weber means by rationalism, but the “spirit of capitalism, is good for the economy, its had an impact on everyone.

The use of the quote from Benjamin Franklin that gives examples of what Weber describes as the Spirit of Capitalism is very detailed. The excerpt seems to be less about work ethic and more about the “spirit” of how capitalism is. For example, making sure your debt is paid on time. “ The most trifling actions that affect a man’s credit are to be regarded. The sound of your hammer at five in the morning, or eight at night, heard by a creditor, makes him easy six months longer; but if he sees you at a billiard-table, or hears your voice at a tavern, when you should be at work, he sends for his money the next day; demands it, before he can receive it, in a lump.” (Weber pg15) This best describes a western modern version of capitalism. Where you should not feel like you own everything you have because you worked for it. The creditor or your boss will always have the upper hand and is in some way controlling everything you do and truly owns everything you have. Franklin is reassuring in his words by encouraging honesty and responsibility.

When Weber describes rationalism, he describes that material things and greed drive men. Particularly in the west, the capitalistic rationalism would not be as powerful if not for both the rationalism and the “spirit” of capitalism. “For without the rational capitalistic organization of labour, all this, so far as it was possible at all, would have nothing like the same significance, above all for social structure and all the specific problems of the modern Occident connected with it.” (Weber pg. xxxvi). Social Status and the common separation of economic class is a large contribution to the connection of capitalism in the west.

Weber connects both forms of capitalism to the ideas that in the western culture, there has been more or less of an upper hand created in order to keep the power. With the ideas that religious influences could influence work ethic, Weber rejects that the modern western capitalism has any of these religious ethics involved. The spirit of capitalism that has been created encourages a different attitude toward capitalism. It makes a man more responsible. It reminds me of the power of the credit score. If you do not owe, you do not own. Your credit score follows you and can determine if your American dream of owning a house and a car will be fulfilled or not.

Weber, M. (2001). The Protestant ethic and the spirit of capitalism. London: Routledge.

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.

In The Protestant Ethic and the Spirit of Capitalism by Max Weber Weber coated lines written by Benjamin Franklin to describe the spirit of capitalism  where he stated :

“Remember, that time is money. He that can earn ten shillings

a day by his labour, and goes abroad, or sits idle, one-half of

that day, though he spends but sixpence during his diversion or

idleness, ought not to reckon that the only expense; he has

really spent, or rather thrown away, five shillings besides” (weber14).

Franklin was saying that our time equaled money and a person can either work for their money or go idle and spend the little that they have. But money can disappear as easy as it’s received. Plus, from I am drawing I think he believes that a man who works hard for their money would consider the and be more mindful of how he spends that money compared to one that did not work for it.

He connected rationalism and the spirit of capitalism by looking at capitalism as the pursuit of renewable profit. Everything is done in terms of balances, the amount of money gained versus how much is spent. He also quoted franklin on how money equals credit and how the government gets the interest.  “Remember, that credit is money. If a man lets his money lie in my hands after it is due, he gives me the interest, or so much as I can make of it during that time. This amounts to a considerable sum where a man has good and large credit and makes good use of it”. Here he talks about business and loans and if you borrow and don’t pay on time they make a profit. This is where they rob poor people  who worked hard for their money. It’s all a money making business where the poor suffers.

Weber believes that Franklin’s idea is not about making an honest living and finding their way in the world and the work ethic is more of a forgetful duty. And it’s more about profit and greed.  He believed  Benjamin Franklin was irrational and that making money was just a means of supplying material needs. And the drive to earn more and more money is a means to and end because you spend all your time at work and not enjoying life.  He thought that capitalism was more than money and wealth to gain economic status.

Weber views this increasing philosophy of materialism as an end in itself. Modern capitalism exudes this sense of duty to prosper. In order for Weber to best illustrate his method, he utilizes Benjamin Franklin theories and famous quote “time is money…” Franklin exemplifies the spirit of capitalism. His quote expresses different forms of money—Time is money, Credit is money, and money has the ability to produce more money. Consistently paying your bills on time will encourage a form of confidence and trust. Franklin’s ethical principles relate to the usefulness in the hopes of promoting profits.

The rational ethics of capitalism does not grasp this self-indulgent lifestyle; Franklin embodies. During the middle Ages, Franklin’s methods would have been seen as, nothing more than greed. This attitude towards money is the primary reason for capitalism. It expresses a similar feeling associated with religion.  The desirable quality of earning money mirrors the competence of a higher calling.  In my opinion, capitalism acts as another form of Darwinism.

Weber was significantly influenced by Franklin’s concept of capitalism and its effects on society. The money earned should be reinvested into capital.  His views of money were more rational. Benjamin Franklin followed the path of science, which all knowledge inspires from experiences.

Marien Burgos

He that is Known to pay punctually and exactly to the time he promises, may at any time, and on any occasion, raise all the money his friends can spare” by this passage Weber means That the person who builds a good reputation towards money opens doors that may otherwise be close. If the lender can see you are trying and making an effort to pay him his money he will probably feel stimulate to give you a chance to pay his money back, but if he doesn’t see you making an effort to return the money, he will probably think again to lend you money one more time.

The connection between them is that Weber was influenced by Benjamin he understood how capitalism worked before it started being in implemented in America. Weber quoted Benjamin Franklin an consider his believes as rules to live by if you were interested in being successful in life and business. Also he thought that if you lived your life and were greed towards you would see an increasing capital in the end. Weber thought that it was a rule to live by and the person would be seen as a prosperous person.

This life style of earning money is seen as an point in itself, and is only the instrument for buying more things. Even though this attitude towards money is apparently illogical this is the principle of capitalism ,And this is closely related with some religious ideas.

Weber thought that capitalism was more than accumulation of money and wealth. He believed capitalism was thinking more rationally than just making and accumulating wealth using discipline when working hard. Weber consider that in order for people to become strong capitalist, it had to start as a way of life. He consider you had to invest your capital regularly. Weber did not think this develop as a reflection of other economic situations because other places in the country had the “spirit of capitalism” before it stated to take shape all over the country.

In conclusion Weber took Benjamin Franklin’s idea as the core of what capitalism is and how it had to be enforced in order for us to live in a capitalist society. The only difference was that Weber was more rational than Franklin. He thought we had to be rational about money and what we should invest and make money grow. A person who makes a good reputation towards money will be prosperous because this attitude will open doors for the person in the future. But Benjamin Franklin believed in the theory that all knowledge is derived from sense experience. Stimulated by the rise of experimental science.

Due Sunday, September 11th, by midnight. Word count: 400 words. Please make sure everything is in your own words. Do not include any quotes and if you paraphrase make sure to include the proper citation.

In The Protestant Ethic and the Spirit of Capitalism, Weber (:14-15) draws on the writing of Benjamin Franklin to describe the spirit of capitalism. Making reference to the passage from Franklin that Weber quotes at length, explain the connection Weber is underlining here, between rationalism and the spirit of capitalism.