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American Entrepreneurs and the Horatio Alger Myth

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  • Sarachek, Bernard

Abstract

Since 1925 a number of scholars have conducted studies of the general business elite in America. Their studies have concluded that the American business elite has been predominantly native born, urban, better educated than the general population, and has originated disproportionately from higher economic classes. These conclusions are not surprising. It might have been surprising if the business elite were found to have emerged predominantly from the poor and less educated, and the immigrant, farm or working-class populations. Such origins would infer a rapid displacement of elite members, the possibility of rapid and massive disaggregation of family fortunes, and the loss of family aggrandizement as a motivating consideration in the minds of aspiring businessmen. This, however, was apparently not the case.

Suggested Citation

  • Sarachek, Bernard, 1978. "American Entrepreneurs and the Horatio Alger Myth," The Journal of Economic History, Cambridge University Press, vol. 38(2), pages 439-456, June.
    • Handle: RePEc:cup:jechis:v:38:y:1978:i:02:p:439-456_10
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    Cited by:

    1. Minns, Chris & Rizov, Marian, 2005. "The spirit of capitalism? Ethnicity, religion, and self-employment in early 20th century Canada," Explorations in Economic History, Elsevier, vol. 42(2), pages 259-281, April.
    2. Holtz-Eakin, Douglas & Rosen, Harvey S & Weathers, Robert, 2000. "Horatio Alger Meets the Mobility Tables," Small Business Economics, Springer, vol. 14(4), pages 243-274, June.
    3. Bögenhold, Dieter & Fachinger, Uwe, 2012. "Unternehmertum: Unterschiedliche Facetten selbstständiger Berufstätigkeit [Entrepreneurship: Diverse aspects of self-employment]," MPRA Paper 51459, University Library of Munich, Germany.
    4. Sahin, M. & Nijkamp, P. & Rietdijk, M., 2009. "Cultural Diversity and Urban Innovativeness: Personal and Business Characteristics of Urban Migrant Entrepreneurs," Serie Research Memoranda 0033, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.

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