Lecture 14 Reading Summary

The academic ladders than catholics

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Unformatted text preview: Strict avoidance of spontaneous enjoyment of life – rejects idea of hedonism Acquisition of more and more capital, money We all have “ callings” that we must pursue Increase the productivity and efficiency of human labor Acquisitive instinct – obstacle 1 A developed sense of responsibility concerning labour – the feeling of obligation to one’s job Labour must be performed as if it were an absolute end in itself, a calling, without regards to comfort, gain – obstacle 2, as this idea is not a product of nature—this mindset can only be gained through a long socialization process, ( economic) education, it cannot merely be motivated by the prospect of higher wages etc. “attitude which seeks profit rationally and systematically” The principle of rationalization: those who do not follow suit ( comply with modern capitalistic practices) go out of business Competition Earning, not consuming Dedication to business “the ability to free oneself from tradition, a sort of liberal enlightenment, seems likely to be the most suitable basis for such a business man’s success” Avoidance of unnecessary expenditure Save vs. spend Devotion to the calling of making money – money making as a goal in and of itself “ labor for the provision of humanity with material goods”- - - one of the most important purposes of protestants’ life work ECONOMIC TRADITIONALISM • • • • • • The economy of needs Working only enough to sustain yourself Manner of life, rate of profit, amount of work Survival and sustenance Leisure Spend vs. save • • • • • • • Remember, when discussing the spirit of capitalism, this article is limited to western capitalism, it must not be forgotten that capitalism existed in China, India, Babylon etc. Goal: increase in capital the earning of money, so long as it is done legally is the product of virtue and proficiency in a certain calling Economic survival of the fittest Argues that the spirit of capitalism existed before capitalistic order The spirit of capitalism was meant by hostile forces Capitalism can only operate when business people are honest and labourers are disciplined—the people must submit to such manners or operation for a successful capitalist system to...
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This note was uploaded on 09/20/2013 for the course POL 303 taught by Professor Profz during the Spring '10 term at University of Toronto.

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