Both Marx and Weber articulated theories of social change, and advanced explanations for the origin of capitalism. Who was right? Or can the two be synthesised?

Essay from the year 2003 in the subject Sociology - General and Theoretical Directions, grade: 2.1 (B), Oxford University (New College), language: English, abstract: The study of capitalism is a predominant theme in both Marx's and Weber's writings. In conjunction with Marx s Capital , The Protestant Ethic and the Spirit ofCapitalism by Weber constitutes one of the two great theories of capitalism. However, one has to note that both have written a great deal on the theories ofcapitalism. Both writers focus on the historical and causal forces shaping capitalistsociety, but where Marx believed in economic determinism , Weber also believed inso-called non-economic factors of capitalism. He based his analysis on a number ofinterconnections he saw between capitalist development and the influences ofvarious spheres of society such as religion, law and political institutions. I am going togive an overview of the two different explanations for the origin of capitalism by Marxand Weber. Further I am going to investigate who of the two was right or whether thetwo theories can be synthesised. [...]