The writings of Max Weber (1864-1920) contain one of the most fascinating and sophisticated attempts ever made to create an economic sociology. Economic sociologist and Weber scholar Richard Swedberg has selected the most important of Weber's enormous body of writings on the topic, making these available for the first time in a single volume. The central themes around which the anthology is organized are modern capitalism and its relationships to politics, to law, and to culture and religion; a special section is devoted to theoretical aspects of economic sociology. Swedberg provides a valuable introduction illuminating biographical and intellectual dimensions of Weber's work in economic sociology, as well as a glossary defining key concepts in Weber's work in the field and a bibliographical guide to this corpus.

Weber's substantive views on economic sociology are represented in this volume through crucial excerpts from works such as his General Economic History and The Protestant Ethic and the Spirit of Capitalism, but the reader can follow his attempt to construct a conceptual foundation for economic sociology in Economy and Society as well. Also included is Weber's celebrated inaugural lecture, "The Freiburg Address," along with a number of central but hitherto inaccessible writings. Though written nearly a century ago, Weber's work has the quality of a true classic, and the reader will find many ideas in his writings on economic topics that remain applicable in today's world. These include Weber's discussion of what is now called social capital, his analysis of the institutions needed for a well-functioning capitalist economy, and his more general attempt to introduce social structure into economic analysis. As this volume demonstrates, what basically motivated Weber to work with economic sociology was a realization shared by many economists and sociologists today: that the analysis of economic phenomena must include an understanding of the social dimension. Guided by volume editor Swedberg, the reader of this anthology discovers the significance and the enduring relevance of Weber's contribution to economic sociology.

"This is an excellent time for a collection of Weber's work on economic sociology, and Richard Swedberg is the person to do it."--Paul J. DiMaggio, Princeton University "Swedberg offers a comprehensive introduction to a neglected economic classic. This book will be of interest to intellectual historians, to sociologists, and to philosophers of science."--Mark Perlman, University of Pittsburgh

Includes bibliographical references (p. 291-302) and index.

NOTE ON THE TEXTS OF THE READINGS vii

INTRODUCTION, by Richard Swedberg 3

PART I: MODERN CAPITALISM 41

ONE Modern Capitalism: Key Characteristics and Key Institutions 43

TWO The Spirit of Capitalism 52

THREE The Market 75

FOUR The Beginnings of the Firm 80

FIVE Class, Status, and Party 83

PART II: CAPITALISM, LAW, AND POLITICS 97

SIX The Three Types of Legitimate Domination 99

SEVEN The Bureaucratization of Politics and the Economy 109

EIGHT The Rational State and Its Legal System 116

NINE The National State and Economic Policy (Freiburg Address) 120

TEN The Social Causes of the Decay of Ancient Civilization 138

PART III: CAPITALISM, CULTURE, AND RELIGION 155

ELEVEN The Evolution of the Capitalist Spirit 157

TWELVE The Protestant Sects and the Spirit of Capitalism 168

THIRTEEN Kinship and Capitalism in China 179

FOURTEEN The Caste System in India 185

FIFTEEN Charity in Ancient Palestine 189

PART IV THEORETICAL ASPECTS OF ECONOMIC SOCIOLOGY 197

SIXTEEN Sociological Categories of Economic Action 199

SEVENTEEN The Area of Economics, Economic Theory, and the Ideal Type 242

EIGHTEEN Marginal Utility Analysis and "The Fundamental Law of Psychophysics" 249

GLOSSARY

Key Concepts in Weber's Economic Sociology 261

A BIBLIOGRAPHICAL GUIDE TO WEBER'S ECONOMIC SOCIOLOGY 287

INDEX 303