The Stability of the American Business Elite
AbstractThis paper begins the task of explaining why the American business elite has remained white, male and mostly native-born Protestants for a century, as verified in a previous paper (P. Temin, forthcoming). I argue that the evidence is inconsistent with the hypotheses that the stability is due to discrimination on the job or to principal-agent factors. The most likely explanation is that this demographic group makes the best business managers. I suggest that this in turn is not because they are inherently superior, but because they have had access to superior education, a result of past discrimination. Copyright 1999 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Industrial & Corporate Change.
Volume (Year): 8 (1999)
Issue (Month): 2 (June)
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- Robert Boyer, 2005. "From shareholder value to CEO power: The paradox of the 1990s," Working Papers halshs-00590848, HAL.
- Egon Franck & Christian Opitz, 2003. "Different higher education patterns of topmanagers in the U.S., France, and Germany. A signaling approach," Working Papers 0022, University of Zurich, Institute for Strategy and Business Economics (ISU).
- Elise S. Brezis & François Crouzet, 2004. "The Role of Higher Education Institutions: Recruitment of Elites and Economic Growth," CESifo Working Paper Series 1360, CESifo Group Munich.
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