"Chutzpah" was a famous Jewish word even before Professor Alan Dershowitz wrote a book with that title a couple of years ago.
Dershowitz made an argument for being the sort of assertive, confident, in-your-face Jew he believes one can and should be in the United States today. The book, and its insouciantly Jewish title, tell all you need to know about the differences between American and British Jews.
Historically, "chutzpah" (usually translated as "boldness," "barefacedness" or "impudence") has been a necessary Jewish trait. It has helped us to succeed as immigrants and outsiders.
The word is at least mishnaic (1,900 years old) in origin. Its root is the Hebrew "chatzaf," which means "peel off," or "bare." Its talmudic connotations are not wholly positive. A court which attempts to function with only two judges, instead of the usual three, is called a "Beth Din chatzuf," an arrogant court (Sanhedrin 2b).