Elite theory states that there is a revolving door of elites who cycle in and out of positions of power. These people are occupying high positions in the government as well as in the business. They do not necessarily have high positions in the government and business at the same time. Usually, there is movement of the same elites from government to business or vice versa. This is called as revolving door because of the cycle of these elites around the different sectors of the community. The most common example of this are the Wall street bankers or investors who are being appointed in the government to manage its finances.
