Question

Economic approach to elitism relates with burnham

Answer 1

In political science and sociology, elite theoryis a theory of the state which seeks to describe and explain the 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 that this power is independent of a state's democratic elections process. Through positions in corporations or on corporate boards, and influence over the policy-planning networks through financial support of foundations or positions with think tanks or policy-discussion groups, members of the "elite" are able to exert significant power over the policy decisions of corporations and governments. An example of this can be found in the Forbesmagazine 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).[1] 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.[2]