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The Role of Calvinism in the Development of Modern Economy

Gróf Bethlen, István (2018) The Role of Calvinism in the Development of Modern Economy. POLGÁRI SZEMLE: GAZDASÁGI ÉS TÁRSADALMI FOLYÓIRAT, 14 (Spec.). pp. 352-366. ISSN 1786-6553

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Abstract

In 2017 the world has celebrated the 500th anniversary of Reformation, for this occasion countless events and publications commended the significance of this historical event, thus the work of Martin Luther and of course John Calvin as well. Surprisingly, the economic aspects of Calvin and Calvinism have not been stressed, although it seems that the national economy literature, but from other point of views in the scientific world, such as theology, political sciences and history has been controversially working for over more than a century about this topic. This study seeks to fill this gap after the jubilee year. It is achieved by colliding the two extreme positions that Calvin has no effect on the economy or, on the contrary, they see him as the forerunner of capitalism. While the ulterior is also a widespread comprehension, especially in the last century, mainly in German and Anglo-Saxon language areas, is completely exaggerated, because Calvin is not at all identifiable by the so-called “adventurous capitalism” (Max Weber) from the beginning to the present day in its determining practice, but at most can be defined by the strong religious affiliation of Puritan capitalism, which means Calvinism indeed has an effect on the emergence of modern economy. Not only does it have an effect on liberal, also called classical economy system, but has an influence on social market economy, the most successful economic order of all times, as well as the developing Hungarian economy policy, which the author does not conceptually call “unorthodox”, instead he calls it “New Economic Order in Solidarity”. Calvin’s influence from the definition of fair interest to his comprehensive work ethos, which includes modern provisions such as “work instead of aid programme” or support for establishing companies can all be observable nowadays.

Item Type: Article
Uncontrolled Keywords: Calvinism, mercantilism, capitalism, Reformation, Old Testament, interest payment
Subjects: B Philosophy. Psychology. Religion / filozófia, pszichológia, vallás > BL Religion / vallás
H Social Sciences / társadalomtudományok > HC Economic History and Conditions / gazdaság története és alapelvek > HC1 History of economic theories / közgazdasági elméletek
Depositing User: Andrea Paár
Date Deposited: 07 Mar 2019 09:10
Last Modified: 07 Mar 2019 09:10
URI: http://real.mtak.hu/id/eprint/91919

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