Tuesday, March 22, 2011

Catholics against capitalists

Just looking at some historical material for some work on market constraining regulations, I've found a great quote from the French Catholic publication L'Esprit in the early 20th century (courtesy of Donald Sassoon and Richard Kuisel): capitalism was described as 'usury erected into general laws'.

What a great description! It also explains nicely why countries with a strong Catholic tradition tend to more regulated markets. Weber, of course, wouldn't agree.