Max Weber’s protestant ethics versus social constructivist approach to capitalism: capitalism as a social construct

Abstract

The association between capitalism and Protestantism has invoked much controversy, as well as ingenuity. This paper compares Weber’s analysis against a much more contemporary theoretical framework also known as social constructivism. Constructivism as a present-day social theory offers a compelling evaluation of how capitalism may have risen. While Weber offers the Protestant work ethic as a potential catalyst for his approach, his insights argue that capitalism can only be limited to a specific theology, rendering the rest of the world incapable of capitalism. Although Weber’s insights do function as Occam’s Razor, his explanation for how capitalism may flourish in other parts of the world remains restrained. As an alternative social constructivism emphasizes a much better theoretical frame for capitalism that offers a better explanation for how cultures may construct capitalist norms and relations.