Max Weber: Family History, Economic Policy, Exchange Reform

Abstract

Max Weber descended from Anglo-German merchant families with world-wide connections. This helped make him a “cosmopolitan nationalist.” Fittingly Weber at first tried to pursue a career in international commercial law. Family connections informed his understanding of South American wheat exports and North American railroad capitalism and of the tariff issues resulting therefrom. This in turn influenced his critique of the Prussian agrarian capitalists, especially of their opposition to trading in grain futures. Weber championed a strong capital market and efficient exchanges. His economic policies remain of exemplary interest insofar as they link the presumptive, if contested, national interest with an unsentimental acceptance of the world economy.