Weber’s later account of modern capitalism
DOI link for Weber’s later account of modern capitalism
Weber’s later account of modern capitalism book
Having surveyed Weber's writings that deals with the origins and ethos of modern capitalism, this chapter addresses his later work concerning the structural characteristics of capitalism once it has emerged into its mature phase. It focuses on Weber's major work Economy and Society, especially the sections in which he advances his economic sociology. The chapter analyzes the matrix of sociological factors that Weber argues must exist in order for a rational capitalist system to reach its ultimate possibility of development. It considers his various analyses of the business enterprise, the market system and capitalist profit-making. These basic institutions form a complex structure in which the elements are intimately interconnected. Weber distinguishes the lending of money for purposes of consumption and non-economic uses from the lending of money with the object of profit-making. Weber's well known account of bureaucracy in Economy and Society is largely concerned with governmental bureaucracy.