Power elite theory
establishment
A general term for the ruling elites in British society.
Power elite theory
A left wing version of elite theory associated with C Wright Mills. The US power elite are a cohesive group who dominate society through their ability to control the important institutional positions in society. The elite are composed of those at the top of the U.S. Government, the military and large corporations. The leaders of these institutions are so interconnected that in practice they form a single, cohesive and unified group. Hywell Williams has also identified the existence of an equivalent UK power elite, particularly centred on the power of financial elites in the City.
conspiracy theory
A term attached to ideas which rely on asserting that individuals in power act together secretly in order to preserve their own interests against the interests of the rest of society.
Political-financial complex
A term used by Steve Keen to describe the close links between 'the City' and political elites.
Military-industrial complex
A term used by former US President Eisenhower to describe the domination of United States society in the 1960s by an alliance of manufacturers who supplied goods to the armed forces and the key personnel of the military, who wanted larger and larger budgets.
The Military economy
A term used to describe the annual expenditure on the military by the US government (around $700 billion last year). Jeffrey Sachs notes that the US government's budget for overseas Aid is tiny in comparison.
the city
A term used to describe the financial services industry (Banks & Insurance companies) based in London. Nicholas Shaxson believes 'the City' have a disproportionate influence on British politics to the extent that the British State has been captured by the financial services industry.
fragmented elites
The idea put forward by Budge, that there is a lot of competition and rivalry within and between elite groups. In other words they are not as cohesive and unified as suggested by Power Elite Theory.