I. Calvinism, Predestination, and the Concept of a "Calling"

A. Propensity toward disciplined saving as key feature of capitalism
B. Ethos of capitalism predates capitalism
C. The impact of Calvinism

1. John Calvin (1509-1564)
2. Five points (TULIP) formulated by Dutch Reformed theologians at the Synod of Dort (1618 - 19)

a. Humankind is spiritually incapacitated by Sin (Total Depravity)
b. God chooses (elects) unconditionally those who will be saved (Unconditional Election)
c. The saving work of Christ is limited to those elected ones (Limited Atonement)
d. God's grace cannot be turned aside (Irresistible Grace)
e. Those whom God elects in Christ are saved forever, but they must persevere in their faith (Perseverance of the saints)

3. Predestination: God has chosen certain people to be saved. They will go to heaven, the others will not
4. Calvinism creates anxiety: people look for signs of salvation

a. Hard work: calling as a high moral obligation to fulfill your duty in worldly affairs
b. Worldly success as a sign of God's favor

 

II. The Reproduction of Capitalism: The "Iron Cage"

A. Other factors creating capitalism

1. the separation of economic activity from the household
2. cities and urban centers separate from rural areas
3. Roman law
4. nation-states
5. double-entry bookkeeping
6. the disintegration of feudal obligations which led to a free labor force

B. Calvinist belief in predestination as vital spark, made accumulation necessary and endowed pursuit of profit with moral and sacred character
C. Once capitalism emerges, it becomes self-perpetuating

1. Rationalization in bureaucratic structures reproduces modes of economic activity
2. Religious beliefs no longer necessary
3. Asceticism, thrift, and accumulation become secular virtues

D. Loss of religious meanings ==> money-making as secular sport in US: Clip from movie Wall Street
E. Iron cage: "The Puritan wanted to work in a calling; we are forced to do so" (181)

1. We must have money
2. Our desire, love for money reproduces capitalism
3. We must live by the values and structures we have created

 

III. Assessing Weber

A. Attack on Marx's historical materialism

1. Marx: base creates superstructure
2. Weber: a particular worldview -- part of the superstructure -- provides impetus for people to develop base, at least in this case

B. Alienated Catholics: lack discipline, impediment to economic growth
C. Alienated Protestants: iron cage
D. Is Protestant ethic necessary for capitalism?

1. Critics: Japan has capitalism without Protestant ethic
2. Weber: Protestant ethic explains emergence of capitalism in one place at one particular time. After that, it spreads to places that don't have Protestant ethic

E. Giddens' assessment of Weber

1. Calling didn't originate with Luther, Calvin, or other Protestants. Calvinism is anti-capitalist
2. Catholicism wasn't anti-capitalist
3. Calvinists weren't necessarily more entrepreneurial than Catholics
4. Weber defined capitalism so it corresponded with Protestantism
5. Causality, chicken and egg problem between Protestantism and capitalism

F. The appeal of Weber's logic

1. Religious interests shape concrete actions and social relationships, including economic behavior
2. We all have some degree of freedom of action, but our goals and values are given to us by culture
3. Capitalism inculcates a specific form of morality that justifies and reproduces our economic system

 

IV. Buddhism and Entrepreneurial Morality in Vietnam

A. Weber suggests that capitalist morality is universal, inherent in capitalism
B. Vietnam: strong entrepreneurial spirit
C. Importance of money, gift at weddings, means to protect family
D. 1990s: economic growth fuels concerns about morality of money
E. Claims about Confucian influence: strong work ethic, thrift, loyalty, hierarchy, education
F. One woman entrepreneur's story

1. "Confucian" values excludes women from hierarchy, dealmaking
2. Buddhism as alternative entrepreneurial values: success is a sign of virtue
3. Strategic but also deeply felt

G. Change raises moral dilemmas experienced in terms of gender, family, religion

 

V. Weber and Marx Revisited

A. Vietnam: money is positive and negative
B. Religion doesn't sanctify money, it highlights its ambiguity
C. Broader lessons from Vietnam example

1. Money is connected with morality
2. Capitalism can lead to crisis in moral values
3. Money doesn't have to be seen as morally good for capitalism to flourish
4. Money isn't inherently moral or immoral; its value isn't intrinsic to the institution of money or its functions
5. Religious discourses about money are most often ambivalent

D. Marx: base creates superstructure, economy leads to ideology that justifies ruling class interests
E. Weber: ideology provides catalyst for changing economic system
F. Interactive perspective

1. Internal, home-grown changes: ideology can provide a push (Weber)
2. External changes, forced and beyond people's control: ideology provides interpretive framework to make sense of change (Marx, but ideology isn't about mystification)

G. Money and the accumulation of wealth have no inherent morality
H. Money and wealth as universal lightning rods for creation and assessment of moral values

 

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