@techreport{NBERh0110,
 title = "The Stability of the American Business Elite",
 author = "Peter Temin",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Historical Working Paper Series",
 number = "110",
 year = "1998",
 month = "December",
 URL = "http://www.nber.org/papers/h0110",
 abstract = {This 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 (Temin, 1997).  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.},
}