The Modern Power Elite
Published online by Cambridge University Press: 09 July 2026
Large corporations increasingly shape economic and political life, often beyond public oversight. This chapter examines how market concentration, lobbying, and financialization distort competition and policymaking. It traces the emergence of a global economic elite whose influence undermines democratic accountability and inclusive growth. The chapter proposes antitrust reforms, corporate transparency, and institutional checks to limit excess power. Ensuring capitalism serves the public interest requires rebalancing the relationship between business and the state.
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