Conflict Between Ethics and Economics

Where it surfaces

• I: The Medieval Background

  The chapter centers on the collision between traditional Christian morality and the new economic forces of the sixteenth century, as seen in debates over prices, capital, interest, and land.

• The Social Organism

  The central theme of the chapter: the collision between the changed economic environment of the sixteenth century and the accepted moral and social theory inherited from the Middle Ages.

• The Sin of Avarice

  The chapter centers on the tension between Christian moral prohibitions against usury and the practical necessities of credit, trade, and government finance.

• III: The Ideal and the Reality

  The chapter highlights the gulf between the Church's moral ideals and its practical entanglement in economic exploitation, especially regarding serfdom and land tenure.

• II: The Continental Reformers

  The chapter explores how Calvin and his followers sought to reconcile religious ethics with the practical necessities of commerce and finance, moving away from the medieval suspicion of economic gain.

• II: The Economic Revolution

  The text contrasts the traditional moral framework of the Middle Ages with the amoral pursuit of profit by financiers and states, exemplified by the Fuggers' dealings and the comparison to Machiavelli's Prince.

• Luther

  Luther's vehement opposition to commercial capitalism and usury exemplifies the tension between traditional Christian ethics and the emerging economic individualism of the sixteenth century.

• III: Calvin

  Calvin's treatment of usury exemplifies this conflict: he shifts from a rigid biblical rule to a consideration of equity and commercial common sense, accepting capital and credit as necessary while imposing ethical obligations.

• III: The Church of England

  The chapter centers on the struggle between the Church's moral teachings and the new economic realities, particularly over usury and fair bargaining.

• The Land Question

  The chapter contrasts the traditional Christian social ethic—property as a trust with communal obligations—with the new economic forces of profit-seeking and irresponsible ownership, exemplified by the land speculation and exploitation following the dissolution.

• II: Religious and Social Policy

  The chapter centers on the struggle between the Church's traditional moral teachings on usury and fair bargaining and the aggressive expansion of commercial capitalism.

• The Growth of Individualism

  The chapter extensively explores the collision between traditional Christian economic ethics and the practices of commercial capitalism, particularly around usury and the separation of economics from morality.

• IV: The Puritan Movement

  The chapter details the tension between Puritan moral discipline and the demands of commercial enterprise, especially regarding usury and hard bargaining.

• Puritanism and Society

  The chapter highlights the collision between economic interests and the policy of compulsory religious conformity, showing how persecution of Nonconformists harmed trade and industry.

• II: A Godly Discipline Versus the Religion of Trade

  Highlights the tension between Puritan moral teachings (against usury, covetousness) and the emerging capitalist spirit.

• III: The Triumph of Economic Virtues

  The tension between traditional moral condemnations of covetousness and the new applause for economic enterprise is a central theme, resolved by the argument that enterprise is a duty imposed by God.

• The New Medicine for Poverty

  Explores the tension between religious moral teachings on charity and the emerging economic doctrines that prioritized efficiency, low wages, and minimal poor relief.

• Conclusion

  Explores the historical conflict between religious ethics and economic ambitions, culminating in a truce that divides life between them.

• Endnotes

  The endnotes critique Weber's oversimplification of the relationship between religious ethics and economic behavior, highlighting the complexity and diversity within Puritanism.