Economic Elite

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An Economic Elite is an elite that has significant impact in a regional economy.



References

2018

  • (Wikipedia, 2018) ⇒ https://en.wikipedia.org/wiki/Elite_theory Retrieved:2018-8-31.
    • In political science and sociology, elite theory is a theory of the state that seeks to describe and explain power relationships in contemporary society. The theory posits that a small minority, consisting of members of the economic elite and policy-planning networks, holds the most power—and this power is independent of democratic elections. [1] Through positions in corporations or on corporate boards, and influence over policy-planning networks through financial support of foundations or positions with think tanks or policy-discussion groups, members of the "elite" exert significant power over corporate and government decisions. An example of this belief is in the Forbes magazine article (published in December 2009) entitled The World's Most Powerful People, in which Forbes purported to list the 67 most powerful people in the world (assigning one "slot" for each 100,000,000 of human population). The basic characteristics of this theory are that power is concentrated, the elites are unified, the non-elites are diverse and powerless, elites' interests are unified due to common backgrounds and positions and the defining characteristic of power is institutional position.

      Even when entire groups are ostensibly completely excluded from the state's traditional networks of power (historically, on the basis of arbitrary criteria such as nobility, race, gender, or religion), elite theory recognizes that "counter-elites" frequently develop within such excluded groups. Negotiations between such disenfranchised groups and the state can be analyzed as negotiations between elites ands. A major problem, in turn, is the ability of elites to co-opts.

      Elite theory opposes pluralism, a tradition that assumes that all individuals, or at least the multitude of social groups, have equal power and balance each other out in contributing to democratic political outcomes representing the emergent, aggregate will of society. Elite theory argues either that democracy is a utopian folly, as it is traditionally viewed in the conservative Italian tradition, or that democracy is not realizable within capitalism, as is the view of the more Marxist-compatible contemporary elite theory permutation.

2018