First published in 1970, Professor Gerschenkron's theme is the contribution which the study of Russian economic history can make to the problems which have preoccupied Western historians. He first considers the way in which the case of the old Believers in Russia, who refused to support the official church but played an important entrepreneurial role in nineteenth-century economic development, bears upon Max Weber's celebrated thesis on the relations between the Protestant ethic and the spirit of capitalism. In the course of his discussion, Professor Gerschenkron provides important information on the doctrinal beliefs of this group, their social status and the extent to which they were persecuted and discriminated against by the State. His conclusion is that the persecution certainly afforded sufficient impulse to engage in profitable activities and to develop the traits Weber considered as specific features of the 'capitalist' spirit.

The latest in a series charting national traditions in the history of economic thought, this book focuses on Russia - a land that has had a more turbulent economic history than any other country.

The Spirit of Capitalism answers a fundamental question of economics, a question neither economists nor economic historians have been able to answer: what are the reasons (rather than just the conditions) for sustained economic growth? Taking her title from Max Weber's famous study on the same subject, Liah Greenfeld focuses on the problem of motivation behind the epochal change in behavior, which from the sixteenth century on has reoriented one economy after another from subsistence to profit, transforming the nature of economic activity. A detailed analysis of the development of economic consciousness in England, the Netherlands, France, Germany, Japan, and the United States allows her to argue that the motivation, or spirit, behind the modern, growth-oriented economy was not the liberation of the rational economic actor, but rather nationalism. Nationalism committed masses of people to an endless race for national prestige and thus brought into being the phenomenon of economic competitiveness. Nowhere has economic activity been further removed from the rational calculation of costs than in the United States, where the economy has come to be perceived as the end-all of political life and the determinant of all social progress. American economic civilization spurs the nation on to ever-greater economic achievement. But it turns Americans into workaholics, unsure of the purpose of their pursuits, and leads American statesmen to exaggerate the weight of economic concerns in foreign policy, often to the detriment of American political influence and the confusion of the rest of the world.

A collection of papers reflecting a wide range of thought, from the history of Russian economic thought to the possible ramifications of changes in contemporary Soviet economic policy with respect to the problems created by a functioning "capitalist-style" market.