The Architecture of Global Capital: Elites, States, and the New Geography of Wealth

This article reviews the sociological and interdisciplinary literature on the global architecture of elite wealth, emphasizing structural transformations in the global political economy following the 2008 financial crisis. First, we review the literature on wealth stratification and its limits for studying the current structure of elite wealth. Second, we highlight the dimensions central to this new landscape and examine the reorganization of global production and capital flows, including the outsourcing of manufacturing and the rise of new economic centers in East and Southeast Asia, which challenge nation-bounded analyses of wealth. Third, we show how both democratic and authoritarian states strategically partner with private capital, blurring political distinctions and enabling elite consolidation. Fourth, we trace the expansion of offshore finance that fosters the rise of a transnational elite supported by professional intermediaries. We conclude by calling for new theoretical and methodological tools to study elite power, hidden capital flows, and their implications for inequality and governance.