The Making of Business Nobility. The Social Rise of Austrian Businessmen after 1848

Abstract

In the 19th century, the society of the Habsburg monarchy underwent a fundamental transformation. The changes associated with the year 1848 and the demise of the estate society also significantly affected the social position of businessmen. Their position before this date was not legally defined and prestige did not depend on their property, but on their place in the traditional ranking of the social hierarchy associated with the possession of burgher rights or the noble title. Their prestige began to grow after this date, mainly due to the ever closer cooperation with the state and growing political influence. In the new era, the noble title was not a prerequisite for belonging to the elite, but for many people it was still a symbol of prestige and many businessmen sought it. They saw in it a demonstration of their achievements and a fulcrum for the historical memory of their entire family.