The debates over the differences between the concept of "ruling class" and "power elites" fill bookshelves.
For many "classic" Marxists, the ruling class is seen as a unified meta-entity.
For analysts such as C. Wright Mills, G. William Domhoff, Holly Sklar, etc, the ruling class is seen as composed of factions of power elites in constantly-shifting coalitions.
I tend to favor the latter analysis. See Domhoff's new website:
http://sociology.ucsc.edu/whorulesamerica/
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