Benjamin Franklin

Author Max Weber uses the words of Benjamin Franklin to provide what he considers the best provisional description of the "spirit of capitalism" for the purposes of what he refers to as his investigation, his argument that the Protestant ethic led to successful capitalism. Weber chose Franklin's economic fundamentals because they were presented in an almost classical purity and were free from preconceptions and religious references.

Franklin cautioned his readers to remember that time is money. If a man is idle, he is not making money—in fact he's losing money. Credit is also money. If a man borrows money, the lender is able to use his money to make money. Franklin also describes the steps for a person to become credit worthy. A person who pays his debts on time or early, raises his reputation among the lending community. A man's general behavior and reputation...