Occupational Choice and the Spirit of Capitalism
提出一个理论，解释英国工业革命中地主贵族被中产阶级工业资本家取代的现象：父母根据经济激励塑造子女偏好，中产阶级培养耐心和职业道德，上层阶级培养休闲品味，这些阶级态度在工业化后决定经济成功。
The British Industrial Revolution triggered a socioeconomic transformation whereby the landowning aristocracy was replaced by industrial capitalists rising from the middle classes as the economically dominant group. We propose a theory of preference formation under financial market imperfections that can account for this pattern. Parents shape their children's preferences in response to economic incentives. Middle-class families in occupations requiring effort, skill, and experience develop patience and a work ethic, 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 preindustrial professions, become key determinants of success once industrialization transforms the economic landscape.