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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.
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 ...
State bureaucracy and capitalism served as the twin pillars of the developing rational society. These changes eliminated the preexisting traditions that relied on the trades. [ 165 ] Weber also saw rationalisation as one of the main factors that set the West apart from the rest of the world. [ 170 ]
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.
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Rational-legal authority is the basis of modern democracies. Examples of this type of authority: officials elected by voters, rules that are in the constitution, or policies that are written in a formal document. Rational-legal authority is built on a structure of bureaucracy.
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 ...
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).