Abstract

This article presents a reevaluation of C. Wright Mills’s classic book, The Power Elite, in light of recent historical evidence about the changing nature of the corporate elite in the United States. I argue that Mills’s critique of the mid-twentieth century American elite, although trenchant and in large part appropriate, fails to acknowledge the extent to which business leaders of that era adopted a moderate and pragmatic approach to politics. Operating with an orientation they termed “enlightened self-interest,” the elites of that era promoted policies that—at least to an extent—served the interests of the larger population. I show how the history of the American corporate elite as well as the character of the current US big business community allows us to gain a clearer perspective on the actions of the group’s mid-century counterparts.