Governance of Market Societies: Critical Review of Domhoff's Work

This report provides a critical review of William Domhoff's book, "Who Rules America? The Triumph of the Corporate Rich," examining the governance of market societies, particularly within the context of the United States. The review analyzes Domhoff's central argument that a small elite, representing only 10% of the population, controls the majority of wealth and power, thereby influencing the remaining 90%. The report delves into Domhoff's use of statistical evidence to support his claims, highlighting the unequal distribution of wealth and the concentration of power among the wealthy. Furthermore, it discusses the book's objectives, arguments, methods, values, and contributions to the understanding of power dynamics and social inequality in America. The review also explores the author's style and use of literature to substantiate his claims, ultimately assessing the impact and significance of Domhoff's work in challenging conventional notions of democracy and societal governance.

Running head: GOVERNANCE F MARKET SOCIETIES
Governance of Market Societies
Name of the Student:
Name of the University:
Author’s Note:

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Introduction
The concept of power has been a topic of much discussion since the ancient times and
it is a reflection of this that several researches have been conducted in this particular field so
as study the real nature of this particular concept (Quinney & Shelden, 2018). In particular
the question “who wields the actual power in the society or in any particular nation” has also
captured the attention of the people in the present times (Quinney & Shelden, 2018).
Furthermore, this particular question can be seen as a reflection of not only the changing
nature of the concept of power in the present day society but also the way this particular
concept is utilized by the various individuals as well as the business organizations of the
present times “to bring about the overall growth as well as the development of their entire
business process” (Murray & Scott, 2012). It is here that the book “Who rules America? The
Triumph of the corporate Rich” of the author “Domhoff William” published in the year 2013
gains special prominence. This paper will try to conduct a critical review of this particular
book as per the “the guideline of Australian National University (ANU) document”.
“Who rules America? The Triumph of the corporate Rich”
“Domhoff William” in his famous book “Who rules America? The Triumph of the
corporate Rich” provides an overview of the extent to which the society of the nation of the
United States of America is being ruled by the various elites as well as wealthy section of that
particular nation (William, 2013). Furthermore, the book at the same time challenges the
“class and corporate dominance, which shapes political environment in America” (William,
2013). In the opinion of the author, although the nation of the United States of America
claims to be a socialist one yet the economy of the nation is being regulated on the basis of
the concept of capitalism and thus the entire power as well as the wealth of the nation is being
controlled by only a handful of the people of the nation and it is a reflection of this that not all

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the people of the nation gets equal amount of economic and other opportunities just like the
other nations of the world (William, 2013). In the opinion of the author, in this particular
context the dictum of the Preamble of the Constitution of the United States of America which
states that “We the People of the United States, in Order to form a more perfect Union,
establish Justice, insure domestic Tranquility, provide for the common defence, promote the
general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain
and establish this Constitution for the United States of America” becomes total façade
(Baltzell, 2018). In the opinion of the author, “For years, elites in America have shielded
power through foundations, academic departments, commissions, and think tanks” (William,
2013). Additionally, he “proves that elites in America control power and economy through
overt means and not through covert influence” (William, 2013).
The author also takes the help of various kinds of statistics to drive home the point
made by him in the initial part of his book. The most significant statistics which he takes the
help of his book are “as of 2010, 35.4% of wealth held in private was controlled by only 1%
of the upper class. On the other hand, 53.5% of wealth held in private was controlled by only
19%. Thus, 20% controlled the 89% of privately held wealth, leaving only 11% to be shared
among the bottom 80%. Again, considering financial wealth, the top one percent had a bigger
share of 42.1%, leaving only 57.9% of financial wealth to 99%” (William, 2013).
Furthermore, he also states that the “the top 1% controls 62.4% of business equity, 64.4% of
financial securities, and 35% of stock held in private. On the other hand, the next 9% controls
30.5% of business equity, 29.5% of financial securities, and 45.8% of stock held in private.
Lastly, the bottom 90% controls 8.1% of business equity, 6.1% of financial securities, and
19.2% of stock held in private. Notably, top 10% have 84% to 94% of business equity,
stocks, trust funds, bonds, and nearly 80% of non-home real estate” (William, 2013). Thus, it
becomes apparent that a handful of the people of the nation, that is, less than 10% population

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of the nation control amount of wealth as well as the power which is more than the amount of
power and wealth which is being controlled by the remaining 90% of the population of the
United States of America (William, 2013).
In the opinion of many people the concept of wealth as well as power are correlated
and one term can be used to relate to the other one (Murray & Scott, 2012). For instance a
person who has a considerable amount of power will automatically make connections with
the right kinds of people which is likely to provide him with a considerable amount of power
and vice versa. Therefore, it is generally seen that the concept of power as well as wealth are
related to each other since the ancient times. In the particular context of the book under
discussion here it becomes apparent that the “Wealth is used as a resource by the rich to
donate, sponsor political parties, pay lobbyists, and offer grants to professionals who are
mandated to come up with new policies aimed at benefiting the wealthy. Additionally, wealth
can be used to shape the greater social environment in order to safeguard the interests of the
wealthy” (William, 2013). Furthermore, it is generally seen that since the wealthy people of
the nation of the United States of America control the majority of the wealth as well as the
power of the nation therefore the stock market and the other important organizations of the
nation are also being controlled by the same people. Therefore, it would be apt to say that
although the United States of America claims to a democratic and claims that the power of
the nation rests in the hands of the people however it is seen that the majority of the power of
the nation rests with only the 10% population of the nation who are wealthy as well as
powerfully and the remaining 90% of the population of the nation are being controlled by
them (William, 2013). Thus, it can be said that democracy is just a façade in the nation of the
United States of America.

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Objectives
The primary objective of the book “Who rules America? The Triumph of the
corporate Rich” by the author “Domhoff William” is to find out the real place in the nation of
the United States of America where the real power as well as the wealth of the nation lies. It
is significant to note that authors takes the help of various theoretical frameworks and others
to derive the conclusion that the real wealth as well as the power of the nation lies in the
hands of the limited 10% of the wealthy and the powerful elite of the nation who controls the
remaining 90% of the population of the nation (William, 2013). Furthermore, the author
states that this is in complete contrast to the various precepts of democracy which states that
the real power of the nation lies with the people of the nation irrespective of the amount of
wealth as well as power which they hold.
Argument
The central argument of the author in the book “Who rules America? The Triumph of
the corporate Rich” is the fact that only 10% of the population of the nation of the United
States of America holds the kind of wealth as well as power which is more than enough to
control and regulate the remaining 90% of the population of the nation in the most effective
manner (William, 2013). Furthermore, he articulates the view that this particular fact is in
complete opposition to the various precepts of democracy which seeks to provide equal
amount of power as well as wealth to all the entities of the nation. Therefore, in the view of
the author the entire system of democracy becomes a facade meant to suppress as well as to
control the people of the nation and at the same time to maintain the status quo of the society.
The author also takes the help of various kinds of statistics to derive the results which were
necessary for the formulation of the book under consideration here.

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Method
The author takes the help of the various kinds of statistics derived by the other
researches and has at the same time various researches of his own in a bid to derive the
results which were necessary to arrive at the results which formed the key features of the
book “Who rules America? The Triumph of the corporate Rich”. Moreover, the author also
takes the help of various kinds of secondary books as well as articles provided by the
authorities of the nations to derive the conclusions necessary for the formulation of the book.
Evidence
The author in order to validate the results derived by him during the process of his
research takes the help of various kinds of statistics. For example, the most important
statistics which the author takes the help is the fact that the “90% of the people of the nation
of the United States of America are controlled as well as regulated by the 10% wealthy and
the powerful elites of the nation” (William, 2013). Furthermore, the author is also of the
opinion that “as of 2010, 35.4% of wealth held in private was controlled by only 1% of the
upper class. On the other hand, 53.5% of wealth held in private was controlled by only 19%.
Thus, 20% controlled the 89% of privately held wealth, leaving only 11% to be shared among
the bottom 80%” (William, 2013). Therefore, it would be apt to say that the author takes the
help of various kinds of researches as well as statistics to arrive at the results stated by him in
his book “Who rules America? The Triumph of the corporate Rich”.
Values
The author in the book “Who rules America? The Triumph of the corporate Rich”
explicitly states the values which he seeks to describe. As per the author the most important
fact of the preset society of the nation of the United States of America is the unequal
distribution of the wealth as well as power in the nation. In the opinion of many people the

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nation of the United States of America is a democratic one and does it should give equal
opportunities to all the people of the nation however in practise it is rarely seen.
Literature
The author in the book “Who rules America? The Triumph of the corporate Rich”
takes the help of the various kinds of already existing literatures related to the genre of power
and wealth and their distribution in the nation of the United States of America. The author at
the same time also takes the help of various kinds of statistics to validate the points made in
the literatures which he takes the help of to derive home the points made by him.
Contribution
The book makes a significant contribution to the subject of the use of power as well as
wealth in the society of the United States of America. The book seeks to repudiate some of
the earlier stated arguments about the distribution of wealth and power in the nation and also
creates some new ones.
Style
The author uses a clear, concise and argumentative style for the composition of this
particular book. Moreover, the author also takes the help of various kinds of statistics to
validate the various points made by him in the book.
Conclusion
To conclude, the book “Who rules America? The Triumph of the corporate Rich”
gives a pertinent account of the nature of the distribution of power and wealth in the society
of the United States of America. The author is of the opinion that more than 90% of the
wealth as well as the power of the nation is being controlled by the 10% of the population of
the society and this account for the un-equality in the society of the United States of America.

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References
Baltzell, G. (2018). Constitution of the United States - We the People. Constitutionus.com.
Retrieved 30 April 2018, from http://constitutionus.com/
Bettig, R. V. (2018). Copyrighting culture: The political economy of intellectual property.
Routledge.
Cronin, J. E. (2014). Global rules: America, Britain and a disordered world. Yale University
Press.
Dalton, M. (2017). Men who manage: Fusions of feeling and theory in administration.
Routledge.
Domhoff, W. (2013). Wealth, Income, and Power,‖ in Who Rules America. Retrieved on
March, 18, 2013.
Medvetz, T. (2012). Think tanks in America. University of Chicago Press.
Murray, G., & Scott, J. (Eds.). (2012). Financial elites and transnational business: Who rules
the world?. Edward Elgar Publishing.
Quinney, R., & Shelden, R. G. (2018). Critique of the legal order: Crime control in capitalist
society. Routledge.
William, D. G. (2013). Who Rules America? The Triumph of the Corporate Rich. McGraw
Hill, New York

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