According to Max Weber, Protestant ethics discouraged the development of capitalism.

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Max Weber theorized that there was a relationship between Protestantism and the emergence of modern capitalism. He argued that Protestant ethics emphasize the importance of hard work and wealth creation (for the glory of God) and frugality (abstinence from worldly pleasures). According to Weber, this kind of value system was needed to facilitate the development of capitalism.

According to Max Weber, Protestant Ethics Discouraged the Development of Capitalism