''General Economic History'' () is a book of economic theory which was composed by

Max Weber Maximilian Carl Emil Weber (; ; 21 April 186414 June 1920) was a German Sociology, sociologist, historian, jurist, and political economy, political economist who was one of the central figures in the development of sociology and the social sc ...

's students based on notes from his lectures. It is notable for reconstructing and filling the gaps in Weber's theories with the help of his published and unpublished works. It was released three years after his death in 1920 and was translated into English by Frank Knight.

Economic theory

The content of the text covered lecture notes taken from 1919 to 1920 when he taught economic and social history (Abriss der universalen Sozial- und ''Wirtschaftsgeschichte).'' His broader view of economics is outlined in the book''.'' He proposed that the field should not only cover economic theory but also economic sociology and economic history. For this position, there are scholars who describe ''General Economic History'' as very close to economic sociology. Weber held that economic history faces three challenges: 1) division of labor; 2) economic orientation toward the generation of profit or householding; and 3) the degree to which rationality and irrationality characterize economic life. In the ''General Economic History'', Weber also developed an institutional theory of the rise of

capitalism Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by ...

in the West. Unlike in his earlier work, ''

The Protestant Ethic and the Spirit of Capitalism ''The Protestant Ethic and the Spirit of Capitalism'' () is a book written by Max Weber, a German sociologist, economist, and politician. First written as a series of essays, the original German text was composed in 1904 and 1905, and was trans ...

'', religion is given a minor role. The emphasis of the work lies instead on the place of the state and calculable law in allowing economic actors to predict exchange for gain. He also refuted claims by thinkers such as

Werner Sombart Werner may refer to: People * Werner (name), origin of the name and people with this name as surname and given name Fictional characters * Werner (comics), a German comic book character * Werner Von Croy, a fictional character in the ''Tomb Rai ...

, who held that the

Jews Jews (, , ), or the Jewish people, are an ethnoreligious group and nation, originating from the Israelites of History of ancient Israel and Judah, ancient Israel and Judah. They also traditionally adhere to Judaism. Jewish ethnicity, rel ...

were responsible for the rise of Western capitalism. He maintained that Jewish capitalism can be considered pariah capitalism rather than rational capitalism and that the idea of the "Jewish factory owner" is a modern one. Weber's institutional theory of capitalism was rediscovered in the early 1980s by writers like

Randall Collins Randall Collins (born July 29, 1941) is an American sociologist who has been influential in both his teaching and writing. He has taught in many notable universities around the world and his academic works have been translated into various langu ...

Daniel Chirot Daniel Chirot (born 1942) is an American historian and writer on Russia. He is the Herbert J. Ellison Professor of Russian and Eurasian Studies at the University of Washington. Chirot is also the founder of the journal '' East European Politics an ...

, and Douglass C. North, who worked to replace theories based largely on

Immanuel Wallerstein Immanuel Maurice Wallerstein (; September 28, 1930 – August 31, 2019) was an American sociologist and economic historian. He is perhaps best known for his development in sociology of world-systems approach."Wallerstein, Immanuel (1930– )." ...

's " World Systems" theory. Though today read primarily by sociologists and

social philosophers Social philosophy is the study and interpretation of society and social institutions in terms of ethical values rather than empirical relations. Social philosophers emphasize understanding the social contexts for political, legal, moral and cultur ...

, Weber's work did have a significant influence on

Frank Knight Frank Hyneman Knight (November 7, 1885 – April 15, 1972) was an American economist who spent most of his career at the University of Chicago, where he became one of the founders of the Chicago School. Nobel laureates Milton Friedman, George S ...

, one of the founders of the neoclassical

Chicago school of economics The Chicago school of economics is a Neoclassical economics, neoclassical Schools of economic thought, school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and populari ...

, who translated Weber's ''General Economic History'' into English in 1927.Max Weber (1927). General Economic History. London: George Allen & Unwin .

References

{{Max Weber 1923 non-fiction books Books about economic history Books by Max Weber 1923 in economic history