The majority of appointed U.S. Treasury secretaries have been either former partners or managers of Goldman Sachs, which is a global investment management firm. Sociologists would argue that this overlap between private business and the federal government is an example of

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The concept of the power elite suggests that a small group of individuals who hold significant economic, political, and social power dominate American society. The fact that many Treasury secretaries have been affiliated with Goldman Sachs, which is a major player in the financial industry, underscores the influence of corporate elites in shaping government policies and decision-making.

The Majority of Appointed U