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Elitism and Institutional Power Paper - Essay Example

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They have the right to decide "whether, when and under what terms American corporations, as well as state and local governments, can borrow money, sell stock, and…
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Elitism and Institutional Power Paper
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Download file to see previous pages This is made worse due to the fact that a relatively small number of companies and banks hold most of the monetary assets in the country (25 large banks and about the same number of insurance companies, out of a long list of these institutions that exist in America) (Dye, 2002).
The basis of the power these companies and banks have is mainly derived out of their control of the money and assets of the country. It is not merely the fact that these individuals and companies are wealthy, but also their independence from the government and the president, that gives them practically free reign. As the ones holding more than half of the countrys assets and wealth, it is up to them to make important financial decisions which have a direct and integral impact on both the citizens of the country and their government. They can allow or disallow loans to the government, change the conditions in which loans are granted and make other critical decisions which will apply to everyone, from the smallest citizen to the largest organization (including the government). This means that the government is actually dependent on these institutions, and as a result- they have a tremendous amount of power on it. It is most logic and painfully obvious that those who consist of this list of the money elite will not want to relinquish their power. Consequently, it is safe to assume that they use strategies in order to maintain their status and influence.
Due to their already main and integral role in the fiscal affairs of the country, it is safe to assume that the companies and banks will retain their power and status as long as they remain financially stable and secure. However, in order to ensure this and possibly even increase their reputation and status, one strategy that is implemented is the merger of main companies or banks. By merging with smaller companies or maybe even with ...Download file to see next pagesRead More
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