Bus 1050 1st Edition Lecture 10 Outline of Last Lecture I. Ruskin, the Veins of Wealth from Unto This Last and Other EssaysA. Nature of wealth B. Mercantile wealth C. National wealth II.Tawney, The Social Organism from Religion and the Rise of CapitalismA. Traders B. Wealth and labor Outline of Current Lecture II. Weber, from The Protestant Ethic and the Spirit of CapitalismA. Wealth B. Idleness C. One’s Calling III.Carnegie, The Gospel of WealthA. Economic Competition B. Distribution of wealth C. Wages Current LectureWeberWeber claimed that wealth is a temptation and people should stay away from it unless God has granted you permission to obtain it. Wealth is viewed, as morally suspect, but it’s no longer viewed as being a problem. The problemlies in how one uses the wealth. One should not use wealth in unjust ways and it shouldn’t be idle.These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Idleness is the greatest risk to salvation. Everyone has a calling, and a calling may be viewed a career path. Weber claims that one must pursue one’s calling as vigorously as possible because God has granted us with the gift. We should pursue the thing that creates the most wealth. When it comes down to doing something with the money, one should remember that it’s God’s money. The exit for the modern economic order is getting rich. CarnegiePrior to industrialism, most people made their own things, which meant that there was crude oil and high prices. With industrialism we pay a great price. The first law or condition of competition is that we pay a price. Are we willing to accept the consequences for economic developments? Most people are. Some argue against this, but what is a better way to live than in competitiveness? Some argue in favor of communism, but it doesn’t work because not all things are individualistic.Law of accumulation of wealth = history shows that the majority of wealth fall in the hands of a small number of people. This is how human societies are structured. The most unjust thing to do is leave one’s wealth to their children according to Carnegie. He advocates for the estate tax. He views this as the wisest decision. It’s God’s money and one must redistribute it. He gave all of his money away while he was alive. He said the best way to give money away is through wages. Wages are the highest form of distribution of wealth. This is for the benefit of the
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