Dēnkard (Acts of the religion), written in Pahlavi, is a summary of 10th-century knowledge of the Mazdean religion and is described by Jean de Menasce on the title page of his translation as a ‘Mazdean encyclopedia.’ The Dēnkard VI (Book VI of the Dēnkard) is representative of late antique and early medieval Zoroastrian ethical ideas. This article analyzes Book VI of the Dēnkard based on modern moral philosophy and introduces it as a candidate for early consequentialism and capitalism. The first (...) generation of Iranian studies scholars in the late 19th and early 20th centuries such as Buch, Darmesteter, and Menant were aware of these concepts and even explained some of them, but the next generation did not take them seriously. This article also analyzes paymān (the ‘right measure’), that is the ancient Iranian ‘golden mean,’ in Book VI of the Dēnkard and shows the similarities and differences between paymān and the Aristotelian ‘golden mean.’ Probably, due to the biblical tradition in the interpretation of ancient religious texts or the anti-utilitarianism and anti-capitalism atmosphere in the second half of the 20th century, many scholars like Shaked inclined to the view that paymān is the main ethical principle of the Dēnkard VI and neglected its consequentialist and capitalist concepts. (shrink)