ABSTRACT
This chapter discusses the sets out lines of intersection and points of complementarity between the respective contributions of Weber and Schumpeter with a view to providing a synthetic combination of their respective theories as the basis of a general theory of modern capitalism. An inquiry into the relationship of Schumpeter and Weber must first consider the compatibility of their respective definitions of capitalism. Schumpeter's approach to modern capitalism is also focused on the role of the entrepreneur, but he wants to deal more explicitly with the workings of the mechanism market exchange as conceived by pure economics (Walras). Both Weber and Schumpeter considered capitalism questionable from both moral and other value points of view. Schumpeter's critique of Weber is, however, misconceived and wrongly places Weber in the camp of Dilthey. Schumpeter's lack of sympathy for the Verstehen approach in sociology is all the more remarkable because he places enormous store on his account of the mentality of the entrepreneur.
