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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.
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
Also, most importantly, it is the bureaucracy—not the workers, or the people in general—which controls the economy and the state. Thus, the system is not truly socialist, but it is not capitalist either. [1] In Trotskyist theory, it is a new form of class society which exploits workers through new mechanisms.
Today, bureaucracy is the administrative system governing any large institution, whether publicly owned or privately owned. [3] The public administration in many jurisdictions is an example of bureaucracy, as is any centralized hierarchical structure of an institution, including corporations, societies, nonprofit organisations, and clubs.
Capitalism may even be identical with the restraint, or at least a rational tempering, of this irrational impulse. But capitalism is identical with the pursuit of profit, and forever renewed profit, by means of continuous, rational, capitalistic enterprise. For it must be so: in a wholly capitalistic order of society, an individual capitalistic ...
In this article, we take a look at the 25 most capitalist nations in the world. You can skip our detailed analysis of capitalism around the world and go directly to 5 Most Capitalist Nations in ...
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House Speaker Nancy Pelosi said "our economic system" has helped some people thrive from the "exploitation" of workers and the environment. Nancy Pelosi rips into capitalism, saying it 'has not ...