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This is the present-day iron cage of institutionalized capitalism. Weber presents his argument in an ironic form. Religion of a particular sort was necessary to revolutionize the economy and the world. A Protestant ethic drove the reorganization of traditional economic life to become a calculating efficient system.
Still, in the modern world, most organized institutions rely on bureaucratic systems to manage information, process records, and administer complex systems, although the decline of paperwork and the widespread use of electronic databases is transforming the way bureaucracies function.
To define the system in practice, liberal democracies often draw upon a constitution, either formally written or uncodified, to delineate the powers of government and enshrine the social contract. After a period of sustained expansion throughout the 20th century, liberal democracy became the predominant political system in the world.
World-systems analysis contends that capitalism as a historical system formed earlier and that countries do not "develop" in stages, but the system does, and events have a different meaning as a phase in the development of historical capitalism, the emergence of the three ideologies of the national developmental mythology (the idea that ...
The new structures of society were marked by the differentiation of the two functionally intermeshing systems that had taken shape around the organisational cores of the capitalist enterprise and the bureaucratic state apparatus. Weber understood this process as the institutionalisation of purposive-rational economic and administrative action.
World-systems are defined by the existence of a division of labor. The modern world-system has a multi-state political structure (the interstate system) and therefore its division of labor is international division of labor. In the modern world-system, the division of labor consists of three zones according to the prevalence of profitable ...
Under rational-legal authority, legitimacy is seen as coming from a legal order and the laws that have been enacted in it (see also natural law and legal positivism).. Weber defined legal order as a system where the rules are enacted and obeyed as legitimate because they are in line with other laws on how they can be enacted and how they should be obeyed.
This is an accepted version of this page This is the latest accepted revision, reviewed on 4 March 2025. Economic system based on private ownership This article is about an economic system. For other uses, see Capitalism (disambiguation). "Capitalist" redirects here. For other uses, see Capitalist (disambiguation). Part of a series on Capitalism Concepts Austerity Business Business cycle ...