THE LEISURE FACTOR IN ENTREPRENEURIAL SUCCESS DURING THE 'ROBBER BARON' ERA

Abstract

Success in capitalist enterprise is often associated with the Protestant work ethic. However, study of three major entrepreneurs - Carnegie, Rockefeller, and Morgan - reveals systematic leisure seeking and limited involvement in day-to-day business operations. It is suggested that this detachment may have been important to their success, enabling more effective decision making. All three relied on hard work and gifted partners but were kept informed by frequent, detailed reports. Important strategic decisions were never delegated. The major conclusion is that long hours of work are not essential for entrepreneurial success.