One of the most astute observers of American life, Alexis de Tocqueville noted that wealth accumulation is perhaps the fundamental motivator of American behavior. At the same time, wealth ownership is thought to be concentrated in the hands of a small minority of the population. It is no secret that wealth ownership has advantages and that these extend beyond the obvious economic benefits to such areas as general social standing and political power. Political influence, for example, is typically exercised indirectly, through lobbying, private funding of research and policy institutes, and campaign financing (Domhoff 1990; Dye 1995; Useem 1984). To the extent to which economic power can be converted into political power, those who own wealth also influence the making of important decisions. As Spencer pointed out more than a century ago, “Even before private landowning begins, quantity of possessions aids in distinguishing the governing from the governed” (Spencer 1882:401). While the nature of the economic and political systems in which wealth is accumulated has changed dramatically since Spencer's time, there is still a strong association between control of material possessions and political influence. Thus those who have wealth have every incentive to maintain that wealth, while those who own little are motivated to acquire wealth. Moreover, the notion of the American dream suggests that such upward mobility is, indeed, possible.