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In the aftermath of a financial crisis marked by bank-friendly bailouts and loosening campaign finance restrictions, a chorus of critics warns that business leaders have too much influence over American politics. Mark Mizruchi worries about the ways they exert too little. The Fracturing of the American Corporate Elite advances the surprising argument that American CEOs, seemingly more powerful today than ever, have abrogated the key leadership role they once played in addressing national challenges, with grave consequences for American society.

Following World War II, American...

Are large American corporations politically unified or divided? This question, which has important implications for the viability of American democracy, has frustrated social scientists and political commentators for decades. Despite years of increasingly sophisticated research, resolution of the issue remains as elusive as ever.

In this important book, Mark S. Mizruchi presents and tests an original model of corporate political behavior. He argues that because the business community is characterized by both unity and conflict, the key issue is not "whether" business is unified but the...