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The shrewd, calculating commercialism which tries all human relations by pecuniary standards, the acquisitiveness which cannot rest while there are competitors to be conquered or profits to be won, the love of social power and hunger for economic gain—these irrepressible appetites had evoked from time immemorial the warnings and denunciations of saints and sages. Plunged in the cleansing waters of later Puritanism, the qualities which less enlightened ages had denounced as social vices emerged as economic virtues. They emerged as moral virtues as well. For the world exists not to be enjoyed, but to be conquered. Only its conqueror deserves the name of Christian. For such a philosophy, the question, "What shall it profit a man?" carries no sting. In winning the world, he wins the salvation of his own soul as well.

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To countless generations of religious thinkers, the fundamental maxim of Christian social ethics had seemed to be expressed in the words of St. Paul to Timothy: "Having food and raiment, let us be therewith content. For the love of money is the root of all evil." Now, while, as always, the world battered at the gate, a new standard was raised within the citadel by its own defenders. The garrison had discovered that the invading host of economic appetites was, not an enemy, but an ally. Not sufficiency to the needs of daily life, but limitless increase and expansion, became the goal of the Christian's efforts.

By a kind of happy pre-established harmony, such as a later age discovered between the needs of society and the self-interest of the individual, success in business is in itself almost a sign of spiritual grace, for it is a proof that a man has laboured faithfully in his vocation.

Laborare est orare. [To work is to pray.] By the Puritan moralist the ancient maxim is repeated with a new and intenser significance. The labor which he idealizes is not simply a requirement imposed by nature, or a punishment for the sin of Adam. It is itself a kind of ascetic discipline, more rigorous than that demanded of any order of mendicants—a discipline imposed by the will of God, and to be undergone, not in solitude, but in the punctual discharge of secular duties. It is not merely an economic means, to be laid aside when physical needs have been satisfied. It is a spiritual end, for in it alone can the soul find health, and it must be continued as an ethical duty long after it has ceased to be a material necessity.

What in Calvin had been a qualified concession to practical exigencies appeared in some of his later followers as a frank idealization of the life of the trader, as the service of God and the training-ground of the soul. Discarding the suspicion of economic motives, which had been as characteristic of the reformers as of medieval theologians, Puritanism in its later phases added a halo of ethical sanctification to the appeal of economic expediency, and offered a moral creed, in which the duties of religion and the calls of business ended their long estrangement in an unanticipated reconciliation.

Convinced that character is all and circumstances nothing, [the Puritan] sees in the poverty of those who fall by the way, not a misfortune to be pitied and relieved, but a moral failing to be condemned, and in riches, not an object of suspicion … but the blessing which rewards the triumph of energy and will.

There was in Puritanism an element which was conservative and traditionalist, and an element which was revolutionary; a collectivism which grasped at an iron discipline, and an individualism which spurned the savorless mess of human ordinances; a sober prudence which would garner the fruits of this world, and a divine recklessness which would make all things new.