Moral cover for capitalism

Purpose – In The Protestant Ethic and the Spirit of Capitalism, Max Weber chronicled how seventeenth‐century religious tenets expounded by John Calvin inadvertently laid the ideological groundwork for the flourishing of eighteenth‐century capitalism. In this early work on the rise of capitalism, Weber examined the changes in attitudes of business and accepted ethical business behavior and the transition of justification from religious tenets and guidance to more secular, yet rational explanations. The purpose of this paper is to contend this transition from religious to secular moral cover for business ethics was aided by the harmony‐of‐interests doctrine, which provided moral, but secular, cover for the pursuit of self‐interest and personal wealth with an implicit, secular rationalization of promoting the public good.Design/methodology/approach – Although Weber used Benjamin Franklin as an exemplar of the earlier Calvinist Protestantism and spirit of capitalism, advocates a case study of Robert Keayne, a...