Protestant Influences

Abstract

This chapter will focus on how Protestant forces that dramatically altered the economic and cultural landscape of Europe and the United States prior to the twentieth century have persisted and continue to influence people’s notions of wealth and the design and delivery of financial services for the poor throughout the rest of the world today. The first section will revisit the concept of the Protestant Ethic posited by sociologist Max Weber and how it has helped to shape modern America from a philanthropic perspective. The second section will look at how the principle of self-reliance found in the Protestant Ethic relates to the American dream of wealth gained primarily through entrepreneurship. The third section will touch upon the challenge of individualism on group microfinance models. The fourth and final section will present an in-depth case study examining the expansive role members of the Mormon Church have played in microfinance. By looking closely at the intellectual thought and practical work of this particular religious denomination, the chapter will demonstrate how many of the ideas of this uniquely American religion, one that has arguably embraced many principles inherent in the Protestant Ethic to a high degree, illuminate a myriad of economic issues rooted in those ideals.

“Having, First, gained all you can, and, Secondly saved all you can, Then ‘give all you can.’“¹

John Wesley