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Max Weber suggested in 1904 that certain tenets of Protestantism were more favorable to commerce and thus led to the rise of capitalism in his book The Protestant Ethic and the Spirit of Capitalism.

Karl Marx earlier suggested the reverse connection; that the rise of commerce and capitalism in Europe led to the Protestant Reformation. That would have been in the second half of the 19th century (1870 -ish).

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Q: Who first said there was a link between Protestantism and capitalism?
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Capitalism allows people to own private property, have the right to gain wealth and compete in the market. This promotes a growing economy where competing industries produce higher-quality products. Capitalism also allows individuals to earn money based on the importance of their role in society. If doctors didn't earn more than carpenters, no one would become a doctor and we'd have a shortage. This system encourages people to contribute to the economy, thereby gaining wealth for themselves and promoting wealth for others. Capitalism is not without it's flaws, and there are many different forms of it. (see the related link for a historical perspective on Western capitalism)


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