Werner Sombart. The Jews and Modern Capitalism.

 Hence, to make profit was looked upon by most people throughout

the period as improper, as “unchristian”; the old economic teaching of

Thomas Aquinas was observed,22 at least officially. The religious or

ethical rule was still supreme;23 there was as yet no sign of the liberation

of economic life from its religious and ethical bonds. Every action, no

matter in what sphere, was done with a view to the Highest Tribunal —

the will of God. Need it be pointed out that the attitude of Mammon was

as opposed to this as pole is to pole?...

Besides, it was commercial

etiquette. You did not run after customers. You waited until they came,

“and then” (in the words of De Foe’s sermon), “with God’s blessing and

his own care, he may expect his share of trade with his neighbours.”24

The merchant who attended fairs did not do otherwise; “day and night

he waits at his stall.”25

To take away your neighbour’s customers was contemptible, un￾christian, and immoral.26 A rule for “Merchants who trade in commodi￾ties” was: “Turn no man’s customers awayfrom him, either by word of

mouth or by letter, and do not to another what you would not have

another do to you.”27 It was, however, more than a rule; it became an

ordinance, and is met with over and over again. In Mayence its wording

was as follows:28 “No one shall prevent another from buying, or by

offering a higher price make a commodity dearer, on pain of losing his

purchase; no one shall interfere in another’s business undertaking, or

carry on his own on so large a scale as to ruin other traders.” In Saxony

it was much. the same.29 “No shopkeeper shall call away the customers

from another’s shop, nor shall he by signs or motions keep them from

buying.”

But to attract customers even without interfering with your

neighbour’s business was regarded as unworthy. As late as the early

18th century in London itself it was not considered proper for a shop￾keeper to dress his window tastefully, and so lure purchasers. De Foe,

no less than his later editors, did not mince words in expressing his

contempt for such a course, of which, as he mentions apparently with

some satisfaction, only a few bakers and toymen were guilty.30

To the things that were not permitted belonged also advertising your

business and praising your wares. ...

To praise your goods or to point out wherein your business was

superior to others was equally nefarious. But the last word in commer￾cial impropriety was to announce that your prices were lower than those

of the man opposite. ‘To undersell” was most ungentlemanly: “No bless￾ing will come from harming your neighbour by underselling and cutting

prices.”36

Bad as underselling itself was in the eyes of the people of those

days, it was beneath contempt to advertise it...