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Was Weber Wrong? A Human Capital Theory of Protestant Economic History

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  • Sascha O. Becker
  • Ludger Woessmann

Abstract

Max Weber attributed the higher economic prosperity of Protestant regions to a Protestant work ethic. We provide an alternative theory, where Protestant economies prospered because instruction in reading the Bible generated the human capital crucial to economic prosperity. County-level data from late 19thcentury Prussia reveal that Protestantism was indeed associated not only with higher economic prosperity, but also with better education. We find that Protestants’ higher literacy can account for the whole gap in economic prosperity. Results hold when we exploit the initial concentric dispersion of the Reformation to use distance to Wittenberg as an instrument for Protestantism.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2007/wp-cesifo-2007-05/cesifo1_wp1987.pdf
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Bibliographic Info

Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 1987.

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Date of creation: 2007
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Handle: RePEc:ces:ceswps:_1987

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Keywords: human capital; protestantism; economic history;

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  1. Le rôle du capital humain dans la révolution industrielle
    by ? in D'un champ l'autre on 2014-06-21 18:43:00
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