The Spirit of Capitalism

This set of flashcards highlights key terms and definitions from the lecture focused on the relationship between asceticism and capitalism, specifically within the context of Protestantism.

Asceticism

A lifestyle characterized by abstinence from various worldly pleasures, often for religious or spiritual reasons.

Capitalism

An economic system in which private individuals or businesses own capital goods, and production and prices are determined by supply and demand.

Predestination

The doctrine that God has eternally chosen those whom he intends to save, and that this choice is independent of any merit of the individual.

Methodism

A movement within the Church of England that emphasizes a methodical approach to faith and practice, including ascetic behavior.

Protestant Ethic

The value attached to hard work, frugality, and diligence as a means of serving God and achieving success.

Bourgeoisie

The social class primarily composed of the middle class who own capital and are associated with capitalist economic practices.

Utilitarianism

An ethical theory that posits that the best action is the one that maximizes utility or benefit for the greatest number.

Theocentric

Centered around God or divine matters; emphasizing that all aspects of life should relate to God's will.

Worldly Activity

Practical work in the secular world that is guided by the principles of asceticism to serve a higher purpose.

Economic Ethics

The study of the moral principles that govern the conduct of individuals and institutions in the economic sphere.