The character of elite is dynamic. It changes from time to time and place to place. The changes in the society always produce rather compel changes in the character of an elite. For example, in a traditional society, kinship or family status provides basis to the ruling elite and in a feudal society the wealth or landed property constitutes the basis of elite.
In a contemporary industrial society, characterised by a web of complex interdependent socio- economic-cultural relations, several factors provide basis to the elite.
According to Verney, a modern democratic society, the elite owes its peculiar position of privilege to the recognition and esteem accorded to it by the masses. Should a society change its standard of values, for example, should the Age of Empire give way to the Age of Technology, a different set of men is awarded esteem and honour and forms the elite of a nation.”
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A change in values of a society always produces a change in the elite structure. Further, elites in the modern times have to “assume a broader complexion to include not only those who are at the top but also those who constitute the strata of society from which leaders usually emerge.” The nature of elites of contemporary times is very different from the nature of elites in the past. Likewise, the future elites are bound to be different from the present elites.
Moreover, the membership of elite is always in flux. The top leaders of an elite are, usually, in a position to remain in power only for a limited period. New members continuously keep on replacing the old members.
The ‘circulation of the elite’ is a continuous phenomenon. Within every elite group there is always present an inherent struggle for power and leadership. This fact as well as the existence of counter elites in the social system are together responsible for keeping dynamic the nature, leadership and activities of the elite.