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For more than fifty years the Weber thesis, which attributed to Calvinism a decisive influence in the development of modern capitalism, has been vigorously debated. In his celebrated essay, The Protestant Ethic and the Spirit of Capitalism (1904), Max Weber had suggested that Calvinism contributed to the rise of capitalism in various ways—by relaxing the restraints which hitherto had largely served to impede its growth; by fostering the economic virtues of diligence, frugality, honesty, prudence, and sobriety; and, most of all, by providing a psychological, fillip to the development of the “spirit” of capitalism, “the temper of single-minded concentration upon pecuniary gain.” The controversy precipitated by the publication of Weber's essay engendered considerable heat that often served to obscure the points at issue, but over the years the continuing discussion has served to remove many of the issues from the area of debate and to narrow the focus of the central issue that remains.