Family Dynasties: Success and Failure

Abstract

This chapter considers what factors contributed to the survival and success of the leading families, and to the decline of others. It identifies the crucial role of entrepreneurs in founding and sustaining the fortunes of leading families. A key finding of the chapter is the distinction between old aristocratic wealth and new mercantile wealth. Some older families fell into debt and lost their property portfolios. Others redistributed income within the family or undertook strategic marriages, and thus obtained a new lease of life.