ABSTRACT
This chapter argues that Russia’s new entrepreneurial class is destined to play a very important, maybe crucial, role in the future course of Russian history. A tradition among economists to underestimate the role of the entrepreneur in the economy dates back, perhaps, to Adam Smith and his concept of the “invisible hand.” However, women have been developing entrepreneurial activities in their homes by focusing on specific household needs. The age distribution of Russian entrepreneurs confirms the prevailing view that people are inclined to start entrepreneurial careers when they already have a family and some life experience. Educational characteristics of Russian entrepreneurs correspond with the general education level of the Russian population. However, important entrepreneurial personality characteristics such as independence, individuality, and initiative-taking are also forged in the family. The different social strata from which new entrepreneurs come determine the different lifestyles they practice. In communist Russia entrepreneurs were banned, jailed, and sometimes murdered under Stalin’s rule.
