Tocqueville and the Spirit of American Capitalism

This paper argues that Democracy in America contains an important but neglected picture of the U.S. economy, in which the role of cultural factors (“spirit ” in Max Weber's terminology) plays a central role. While The Protestant Ethic discusses the spirit of American capitalism in the 18th century (as exemplified by Benjamin Franklin), Democracy in America contains an analysis of the situation in the United States some time later, namely in the early 1800s. From a theoretical perspective, Tocqueville can be said to have complemented and updated Weber's general picture of the spirit of capitalism. Similar to Weber, Tocqueville emphasizes the positive attitude to work (each and every job is seen as “honorable ” in the United States) as well as the penchant for entrepreneurship (“audacity ” and “boldness ” in business). While Weber stresses the methodical and ascetic dimensions of the spirit of capitalism, however, Tocqueville points to the restlessness of the economic actors (“restiveness”) and their desire for eve