Structural power of business

Keren Borenstein-Nativ

Chapter 48 in Elgar Encyclopedia of Business and Government, 2026, pp 281-285 from Edward Elgar Publishing

Abstract: The structural power of business is a concept that examines the relationship between the private sector and government in the context of public policy outcomes. Probing this relationship is essential for understanding the operation of advanced capitalist democracies. The classic explanation of the structural power of business refers to the ability of private capital holders to indirectly influence public policy without engaging in active lobbying efforts. In this view, big businesses wield structural power simply by virtue of their position in a capitalist economy. However, since first gaining ascendancy in the late 1960s, this conception of structural power has been challenged and reconceptualized, with a more nuanced understanding emerging after the 2007–2008 financial crisis. The profound restructuring of global capitalism over the last few decades has led to changes in the sources of businesses’ political influence. Consequently, new variants of structural power have appeared, reflecting the evolving dynamics of business-government relations.

Keywords: Structural power; Business; Privileged position; Capital holders; Financial crisis; Political economy; Capitalism (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035307777
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