ABSTRACT
This chapter focuses on an analysis of the democratic and aristocratic aspects of elite selection in Philadelphia. In Philadelphia in 1940, the goal-integrating function was performed by the business elite, which includes businessmen, bankers, lawyers, and engineers. Although differing in technical training, all these men perform essentially similar elite functions: the exercise of power over other men in making the decisions which shape the ends of a predominantly business-oriented social structure. The most important task of elite analysis is that of determining the changing composition of the goal-integrating group. James Burnham, for instance, who focused on this problem in his Managerial Revolution, attempted to show how the professional manager was replacing the financier or owner as the dominant member of the goal-integrating elite in modern bureaucratic society. Upper-class Philadelphians follow the pattern described by Allen. In 1940 they were firmly in control of both commercial and investment banking in the city.
