“From the development of the welfare state in America to the communist revolutions of the East and the fascist uprisings throughout Europe; nearly every inch of the globe witnessed an ideological revolution, each advancing the government’s role in a nation’s society and economy – for better or worse.”
This article briefly explores Max Weber’s famous work ‘The Protestant Work Ethic and the Spirit of Capitalism’ (1905), which describes the immense influence of rationalized religious beliefs (specifically those which arose from the Protestant Reformation) in creating the social conditions necessary for modern capitalism to develop.
Over 200 years after his birth, let us reflect on the challenges which Marx predicted would curse the future of capitalism – and why such predictions have or haven’t come true. In the process, we shall hopefully begin to understand, not only the intricate mind of Karl Marx but strengths and weaknesses of the capitalist system itself.
