What is Power?

Political Power

Political power: Federalism

Economic Power

Economic power Corporate Ownership Percent of all stock owned: Wealth class Top 1% 33.5%36.7%38.3% Next 19% 55.8%53.9%52.8% Bottom 80% 10.7%9.4%8.9%

Social Power Class=def.: a group sharing the same economic or social status; property and lack of property are the basic categories of all class situations Table 1: Distribution of net worth and financial wealth in the United States, Total Net Worth Top 1 percentNext 19 percentBottom 80 percent %47.5%18.7% %46.2%16.5% %46.6%16.2% %45.4%16.1% %45.3%16.6% %51.0%15.6% %50.3%15.3% %50.5%15.0%

Social Power—Class: Wealth concentration

Social Power—Class Financial Wealth Top 1 percentNext 19 percentBottom 80 percent %48.4%8.7% %46.5%6.6% %46.7%7.7% %45.9%7.0% %43.6%9.1% %51.5%8.7% %50.3%7.5% %50.3%7.0%

Social Power— Status(honor)/Caste Monarch & Aristocrats Clergy/Priests Merchants, Tradesmen Peasants/serfs/slaves Status=def.: relative rank in a hierarchy of prestige (honor); especially: high prestige (honor) A specific style of life is shared by a status group, and the group itself is defined by those with whom one has social interaction similar class position does not require similar status groups (see old money's disapproval for the nouveau riche).

Social Power—Status(Honor)/Caste Modern society

Social Power—power elite and policy formation

Social Power—Party

The Political Compass Plots parties’ and leaders’ philosophy of power Economic (horizontal) and Social (Vertical) scale (Axis) Authoritarian=def.: favoring a concentration of power in a leader or elite not constitutionally responsible to the people Libertarian=def.: a person who upholds the principles of individual freedom especially of thought and action. (Economic) Left means government intervention and regulation of the economy (Economic) Right means non- intervention by the government in the actions of capitalists or corporations

Social Power— Party Party=def.: a group of persons organized for the purpose of directing the policies of a government Parties aim for social power, or, the ability to influence the actions of others. Parties may represent class or status interests, or neither. They usually represent a mix.

What is Power? Power=def. Possession of control, authority or influence over others. The ability or official capacity to exercise control or authority. A person, group or nation having great influence or control over others. The political ascendency or control in the government of a country, state etc. The might of a nation, political organization, or similar group over others.