English

The Jews And Modern Capitalism

...an addition to Max Weber's historic study of the connection between Protestantism (especially Calvinism) and Capitalism, with Sombart documenting Jewish involvement in historic capitalist development. He argued that Jewish traders and manufacturers, excluded from the guilds, developed a distinctive antipathy to the fundamentals of medieval commerce, which they saw as primitive and unprogressive: the desire for 'just' (and fixed) wages and prices; for an equitable system in which shares of the market were agreed and unchanging; profits and livelihoods modest but guaranteed; and limits placed on production. Excluded from the system, Sombart argued, the Jews broke it up and replaced it with modern capitalism, in which competition was unlimited and the only law was pleasing the customer.

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