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The NewProfessional Econocracyand the Maintenance of Elite Power

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posted on 04.08.2022, 22:00 authored by Aeron DavisAeron Davis
This article begins by asking how have elites, who are more fragmented, transitory and precarious than ever, continued to do so well out of discredited, financialised capitalist democracy? One possible answer lies in what I term the new professional econocracy. As the article reveals, an increasing proportion of elite figures at the top of business and government now have educational and/or professional experiences of economics and related disciplines. On the one hand, this provides the basis of a shared professional discourse and accompanying set of norms, values and practices. This unites disparate and mobile elites. On the other hand, such knowledge enables these elites both to move across sectors and to game the economic and accounting systems that they have helped construct. Thus, elites reflexively adapt to, and benefit from, economic rules while also rigidly dictating them to those below.

History

Preferred citation

Davis, A. (2017). The NewProfessional Econocracyand the Maintenance of Elite Power. Political Studies, 65(3), 594-610. https://doi.org/10.1177/0032321716674023

Journal title

Political Studies

Volume

65

Issue

3

Publication date

01/10/2017

Pagination

594-610

Publisher

SAGE Publications

Publication status

Published

Online publication date

20/01/2017

ISSN

0032-3217

eISSN

1467-9248

Language

en

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