Religion & the rise of capitalism in Britain.

 

For the father of classical economics, Adam Smith, the merchant, entrepreneur, and manufacturer, were the best example of the "energetic man". But if you read his book 'The Wealth of Nations', Smith is very critical of the capitalist who he thinks shouldn't be involved in the affairs of government, "the rulers of mankind", because he's driven by narrow self-interest, and is a man, whose public integrity and acumen are severely compromised. He believed that both the capitalists and labourer look to their own self-interest, but they promote a beneficial social outcome that is not of their intention, guided by an "invisible hand." Nor is he much impressed with the politician - "the skill of that insidious and crafty animal, vulgarly called a statesman or politician."

Smith writes: "Wherever there is great property, there is great inequality. For one very rich man, there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions." Smith argues that civil government is instituted for the defence of the rich against the poor. Yet, he saw capitalism as the surest means of wealth accumulation and considered the signs of a properly functioning market system, to be the maximization of material benefits to society's lowest members.

If you read 'Religion and the rise of capitalism', by R.H. Tawney, you would wonder how Britain ever became a capitalist society. Religion and traditional virtue taught that avarice was a vice, usury a misdemeanour, and the love of money, was considered detestable. As the Bible says, "And having food and raiment let us be therewith content...For the love of money is the root of all evil..." (Timothy, Chapter 6, 8-10).

Christianity placed greater emphasis on the after-life than this life. Since this world for them, is merely the ante-room to eternity, such temporal things as wealth and poverty mattered very little.