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Lecture 14

Lecture 14 notes

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University of Toronto St. George
Joseph Bryant

SOC250 #14 Capitalism the most fateful force in our modern life (p 17) capitalism is identical with the pursuit of profit and forever renewed profit Chapter 1. Religious Affiliation and Social Stratification Notes current protestant dominance in capitalistic enterpreise, technical accomplishments and in applied sciences. The protestant countries and regions of Europe England, Holland and germany are more prosperous and modern than the catholic areas which are lagging. Protestans outnumbered catholics in professional, technical fields etc. Chapter II. The spirit of capitalism Benjamin Franklin (1706-1790) as exemplar of the spirit scientist, inventor, statesman, entrepreneur had a strict Calvinist upbringing. When you look at franklin he isnt just promoting business tricks, what he is about is an ethos. Offers an ethos a moralized notion of character and conduct not just business savvy or cunning. Work and earn; avoid hedonic distractions and waste; diligence and sobriety. Moralized, about making money the right way not maximize wealth. Live a certain way with the right character. Not greed, greed is as old as human civilization Franklin wrote Poor Richards Almanac(1732 58) 10 000 copies circulation famous sayings and maxims time is money there are no gains without pains get what you can and hold what you get Sloth like rust consums faster than labour wears while the used key is always bright money saved is money gainedetc. Linking economic practices with moral character. By having this character you really earned it Comparison with Jacob Fugger (1459 1525) the great banker-merchant, who was asked about retirement, answered: I just want to make money till I drop dead. Had no ethos, no moral world view jsutifing his economic activity as a higher thing. Renaissance merchants obtain riches and then live a lavish life-style, conspicuous consumption, pleasure and leisure. Totall different of what Franklin was trying to advocate. Wealth for them is simply a tool to obtain pleasure, status etc.
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