Persistence, of Power, Elites, and Institutions and Missing the Story The two articles Persistence, Power, Elites, and Institutions and Missing the Story both concentrate on the fact that the impact of institutions on economic outcomes depends on the interaction between de jure political power, political institutions, and de facto political power, the investments and organizations of different groups. In the first article by Acemoglu and Robinson, these ideas are developed into a model consisting of two groups, the elite and the citizens. Economy’s institutions are chosen by the elite or the citizens depending on who has more political power. Political power allocates the distribution of de jure power and de facto power within an economy. Due to the fact that the elite typically have smaller numbers and of course more money than the citizens, they find increased advantages in investing in de facto practices rather than de jure practices, uncovering that the amount of de facto political power of the elites is an equilibrium outcome and responds to incentives. In the model there is a “contest” between the elite and the citizens, and political institutions determine who has greater political power. Due to the fact that the elite class may invest more in the de facto political power, they can change de jure practices with their investments, and an invariance may occur. An invariance is when the changes in political power are based by the increased use of de facto power, or how incentives in society fuel certain groups to use lobbying, bribery, and extralegal force to achieve their political objectives. Two results of the model were found to be quite important. First, when the elite use less repressive methods, equilibrium institutions are more likely to favor the citizens. Secondly, a greater democratic advantage for citizens may result in the elite investing more to increase their de facto power. The model also displayed that there may be greater inefficiency in democracy than in nondemocracy because of the increased investments in de facto political power by the elite in the democracy, which is socially damaging and costly. In the excerpt, Missing the Story, “deregulation,” or new rules favoring big business interests and going against any sort of consumer
some remaining alert for a potential hazard, and others more relaxed, was gathered inside the entrance to the MGM Grand, the doors of which was lined with crystal, and decorated with platinum specks.
The architects of this modernized castle, an elite group of highly educated individuals, spared no expense at the erection of the structure. The 50 ton, 45 feet tall bronze statue of a lion, which resides in front of the entrance, is one of many examples that demonstrate the architects immense amount…
Concept is an idea and how its related or connected to other ideas.
Think of the word family, the concept of family is related to a lot of different things.
Basic unit of all analysis.
Classify, categorize ideas, events, people sorts, summarizes parts; makes life workable.
Types of Concepts
Observable-concrete,explicit,direct family, friends, group, grades; pocket money.
Inferable- abstract, suggested by a result. Beliefs, ideas, opinions;good, bad; group; love
Example of summarizing…
government that “lacked the power to tax and depended on the contributions from the states for its
expenditures” (Loubert, Aart. "Sovereign Debt Threatens The Union: The Genesis Of A Federation.").
The weak Articles of Confederations called upon the political elite to meet and delegate over a change
to the Articles toward better unity between the states. Three political greats from each state, excluding
Rhode Island, were elected to attend the Constitutional Convention held in secrecy during the month of…
Historical context of the communist manifesto
Persistence of monarchies – a king held power in most of europe old days still with europeans
Persistence of old classes – social classes associated with monarchy was still alive (aristocracy and peasantry) most people were still peasant aristocrats were wealthiest class not capitalist
Rise of new classes – middle class constituted at most two and a half percent of the population.
Technology – use of…
Today in the United States, we read in the newspapers constantly about the state of "classes" in our country. For instance, it is often said at tax time that the Federal budget is balanced on the backs of the "middle class." To people in the "lower class," the promise is held that in a capitalist society, by working hard you can lift yourself out of the lower income bracket to join the "middle class." Entrepreneurs who can "find a need and fill it" can make it into the "upper class." The point…
Among the most obvious failed intellectual enterprises of the past two decades have been various predictions of China’s coming implosion. Whether by social explosion, elite fragmentation, or hard landing, the assumption was that the existing system would have to break. Now, the Chinese government is no longer kicking the can down the road on reform. They’re making changes, and so there’s much more uncertainty within China—and more potential for both upside and downside.
Reforms might prove to be…
Is It Good for America to Adopt Same Sex Marriage?
Would society differ if same sex couples were allowed to marry? How would it be
different? These are just a couple of questions that people ask when talking about same sex
marriage. I believe same sex marriage should be legalized because it violates our constitution
right, that all men are created equal. It also denies them thousands of dollars in Social Security
and tax benefits that normal married couples get. It’s a proven…
UNIVERSITY OF NORTH TEXAS FALL 2014
SOCI 3330 SOCIAL STRATIFICATION Professor Milan Zafirovski
An Introduction to the Study of Social Inequality
1. Main questions in social stratification
what is and why social inequality
types of social inequality
economic inequality--wealth and the rich in society
political inequality--power and the powerful in society
The Godfather presents Vito as the paradigmatic Mafia don. He is wise and intelligent, an excellent reader of others’ intentions, and a smooth, subtle talker, able to convince with words, not only bullets. Though a ruthless, violent criminal, Vito is also a warm, loving father and husband. In his later years, Vito comes across as relaxed and playful, even mellow. He has lived a rich, full life and earned a quiet retirement. Vito is both the perfect father and the…
ough poverty. Violence and
racial structure creates a gap that keeps them from overcoming obstacles in order to become
successful. The class system in both Guatemala and America are similar because it is most
beneficial for the Elite, while…