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 also modern economic policy). That I do not deal with its influence here is quite true. It would be out of place in a study of the Protestant ethic and the spirit of capitalism. But, as will appear in a different connection, far from denying its significance, I have been and am for good reasons of the opinion that its sphere and direction of influence were entirely different from those of the Protestant ethic (of which the spiritual ancestry, of no small practical importance, lies in the sects and in the ethics of Wyclif and Hus). It was not the mode of life of the rising bourgeoisie which was influenced by this other attitude, but the policy of statesmen and princes; and these two partly, but by no means always, convergent lines of development should for purposes of analysis be kept perfectly distinct. So far as Franklin is concerned, his tracts of advice to business men, at present used for school reading in America, belong in fact to a category of works which have influenced practical life, far more than Alberti's large book, which hardly became known outside of learned circles. But I have expressly denoted him as a man who stood beyond the direct influence of the Puritan view of life, which had paled considerably in the meantime, just as the whole English enlightenment, the relations of which to Puritanism have often been set forth.

13. Unfortunately Brentano (op. cit.) has thrown every kind of struggle for gain, whether peaceful or warlike, into one pot, and has then set up as the specific criterion of capitalistic (as contrasted, for instance, with feudal) profit-seeking, its acquisitiveness of money (instead of land). Any further differentiation, which alone could lead to a clear conception, he has not only refused to make, but has made against the concept of the spirit of (modern) capitalism which we have formed for our purposes, the (to me) incomprehensible objection that it already includes in its assumptions what is supposed to be proved.

14. Compare the, in every respect, excellent observations of Sombart, Die deutsche Volkswirtschaft im 19ten Jahrhundert, p. 123. In general I do not need specially to point out, although the following studies go back in their most important points of view to much older work, how much they owe in their development to the mere existence of Sombart's important works, with their pointed formulations and this even, perhaps especially, where they take a different road. Even those who feel themselves continually and decisively disagreeing with Sombart's views, and who reject many of his theses, have the duty to do so only after a thorough study of his work.

15. Of course we cannot here enter into the question of where these limits lie, nor can we evaluate the familiar theory of the relation between high wages and the high productivity of labour which was first suggested by Brassey, formulated and maintained theoretically by Brentano, and both historically and theoretically by Schulze-Gaevernitz. The discussion was again opened by Hasbach's penetrating studies (Schmollers Jahrbuch, 1903, pp. 385-91 and 417 ff.),