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5 - The Ruling Class

Published online by Cambridge University Press:  23 October 2025

Randall G. Holcombe
Affiliation:
Florida State University
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Summary

The primary motivation of members of the ruling class is the quest for power. Power, which enables people to accomplish other goals, is also a desired end in itself. Those who have the greatest desire for power will self-select into activities that allow them to exercise power over others. Participants in the political marketplace will be most successful if they are open to negotiating any offer from other participants, which implies that principled politicians will be at a disadvantage to those who are less principled. In their quest for power, the ruling class seeks stability to prevent challengers from displacing them. Creative destruction, in markets for goods and services and in the political marketplace, works against the elite, so there is a tendency for the economic and political elite to work together to prevent that creative destruction. Unchecked, this tendency can displace progress with stagnation.

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  • The Ruling Class
  • Randall G. Holcombe, Florida State University
  • Book: Politics as Exchange
  • Online publication: 23 October 2025
  • Chapter DOI: https://doi.org/10.1017/9781009693967.006
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  • The Ruling Class
  • Randall G. Holcombe, Florida State University
  • Book: Politics as Exchange
  • Online publication: 23 October 2025
  • Chapter DOI: https://doi.org/10.1017/9781009693967.006
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The Ruling Class
  • Randall G. Holcombe, Florida State University
  • Book: Politics as Exchange
  • Online publication: 23 October 2025
  • Chapter DOI: https://doi.org/10.1017/9781009693967.006
Available formats
×