Occupational choice and the spirit of capitalism
By: Matthias Doepke, Fabrizio Zilibotti.
Contributors: Zilibotti, Fabrizio.; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 12917; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 12917.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "The British Industrial Revolution triggered a reversal in the social order of society whereby the landed elite was replaced by industrial capitalists rising from the middle classes as the economically dominant group.  Many observers have linked this transformation to the contrast in values between a hard-working and frugal middle class and an upper class imbued with disdain for work.  We propose an economic theory of preference formation where both the divergence of attitudes across social classes and the ensuing reversal of economic fortunes are equilibrium outcomes.  In our theory, parents shape their children's preferences in response to economic incentives.  This results in the stratification of society along occupational lines.  Middle-class families in occupations that require effort, skill, and experience develop patience and work ethics, whereas upper-class families relying on rental income cultivate a refined taste for leisure.  These class-specific attitudes, which are rooted in the nature of pre-industrial professions, become key determinants of success once industrialization transforms the economic landscape"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 6/5/2007.

Includes bibliographical references.

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