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Was Weber Wrong? A Human Capital Theory of Protestant Economic History: A Comment on Becker and Woessmann

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  • Christoph A. Schaltegger
  • Benno Torgler

Abstract

This comment makes a contribution to Becker and Woessmann?s paper on a human capital theory of Protestant economic history eventually challenging the famous thesis by Max Weber who attributed economic success to a specific Protestant work ethic (Quarterly Journal of Economics 124 (2) (2009) forthcoming). The authors argue for a human capital approach: higher literacy among Protestants of the 19th century (and not a Protestant work ethic) contributed to higher economic prosperity at that point in history. However, the paper leaves the question open as to whether a Protestant specific work ethic existed or exists at all. Are there observable denomination-based differences in work ethic or is Protestantism only a veil hiding the underlying role of education? We use recent data to explore the role of Protestantism on work ethic. The results indicate that today?s work ethic in fact is influenced by denomination-based religiosity and also education.

Suggested Citation

  • Christoph A. Schaltegger & Benno Torgler, 2009. "Was Weber Wrong? A Human Capital Theory of Protestant Economic History: A Comment on Becker and Woessmann," CREMA Working Paper Series 2009-06, Center for Research in Economics, Management and the Arts (CREMA).
  • Handle: RePEc:cra:wpaper:2009-06
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    References listed on IDEAS

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    1. Sascha O. Becker & Ludger Woessmann, 2009. "Was Weber Wrong? A Human Capital Theory of Protestant Economic History," The Quarterly Journal of Economics, Oxford University Press, vol. 124(2), pages 531-596.
    2. Timo Boppart & Josef Falkinger & Volker Grossmann & Ulrich Woitek & Gabriela W�thrich, 2008. "Qualifying Religion: The Role of Plural Identities for Educational Production," IEW - Working Papers 360, Institute for Empirical Research in Economics - University of Zurich.
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    5. Guido Tabellini, 2010. "Culture and Institutions: Economic Development in the Regions of Europe," Journal of the European Economic Association, European Economic Association, vol. 8(4), pages 677-716, June.
    6. Laurence R. Iannaccone, 1998. "Introduction to the Economics of Religion," Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1465-1495, September.
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    9. Rachel M. McCleary & Robert J. Barro, 2006. "Religion and Economy," Journal of Economic Perspectives, American Economic Association, vol. 20(2), pages 49-72, Spring.
    10. Bernstein, Paul, 1988. "The work ethic: Economics, not religion," Business Horizons, Elsevier, vol. 31(3), pages 8-11.
    11. Frey, Bruno S., 1990. "Institutions matter: The comparative analysis of institutions," European Economic Review, Elsevier, vol. 34(2-3), pages 443-449, May.
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    3. Zhongju Liao & Jincai Dong & Chen Weng & Chen Shen, 2019. "CEOs' religious beliefs and the environmental innovation of private enterprises: The moderating role of political ties," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(4), pages 972-980, July.

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    More about this item

    Keywords

    Religion; Work Ethic; Protestantism; Education;
    All these keywords.

    JEL classification:

    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • I20 - Health, Education, and Welfare - - Education - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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