Protestant Work Ethic - Criticism

Criticism

See also: The Protestant Ethic and the Spirit of Capitalism#Criticisms

The economist Joseph Schumpeter argues that capitalism began in Italy in the 14th century, not in the Protestant areas of Europe. Other factors that further developed the European market economy included the strengthening of property rights and lowering of transaction costs with the decline and monetization of feudalism, and the increase in real wages following the epidemics of bubonic plague.

Becker and Wossmann at the University of Munich have written a discussion paper describing an alternate theory. The abstract to this states that the literacy gap between Protestants (as a result of the Reformation) and Catholics sufficiently explains the economic gaps, and that the: "Results hold when we exploit the initial concentric dispersion of the Reformation to use distance to Wittenberg as an instrument for Protestantism". However, they also note that, between Luther (1500) and 1871 Prussia, the limited data available has meant that the period in question is regarded as a "black box" and that only "some cursory discussion and analysis" is possible.

Read more about this topic:  Protestant Work Ethic

Famous quotes containing the word criticism:

    “The aim of all commentary on art now should be to make works of art—and, by analogy, our own experience—more, rather than less, real to us. The function of criticism should be to show how it is what it is, even that it is what it is, rather than to show what it means.”
    —Susan Sontag (b. 1933)

    “It is the will of God that we must have critics, and missionaries, and Congressmen, and humorists, and we must bear the burden. Meantime, I seem to have been drifting into criticism myself. But that is nothing. At the worst, criticism is nothing more than a crime, and I am not unused to that.”
    —Mark Twain [Samuel Langhorne Clemens] (1835–1910)

    “I, with other Americans, have perhaps unduly resented the stream of criticism of American life ... more particularly have I resented the sneers at Main Street. For I have known that in the cottages that lay behind the street rested the strength of our national character.”
    —Herbert Hoover (1874–1964)