Sociologists would argue that this overlap between private business and the federal government is an example of a. the power elite.
Explanation:
A comparatively small group of people dominating the American policymaking and holding the privileged position in the society is known as power elite. C. Wright Mills is a great sociologist; found that the small and unified group of people holds the highest positions in economic, political, and military institutions. They also involve in influencing the social life of Americans.
The above scenario explains that the former partners and managers of Goldman Sachs were appointed in U.S. Treasury secretaries. This shows that there is a connection between private business and the federal government.
