MAX WEBER IS ALIVE AND WELL, AND LIVING IN GUATEMALA: THE PROTESTANT ETHIC TODAY.

A century after Weber's famous essay, The Protestant Ethic and the Spirit of Capitalism, Protestantism has changed dramatically. Today, there is an affinity between Pentecostalism-a movement vibrant in Latin America and Africa-and modern economic development. Analogues to the Protestant ethic can be found in eastern Asia and these may be looked upon as 'functional equivalents.' Other examples include Opus Dei in Spain and the Old Believers in Russia. Something like the Protestant ethic is a necessary though not sufficient causal factor if a population is to move successfully from poverty to a reasonably decent standard of living. [ABSTRACT FROM AUTHOR]